ONCAP has acquired speciality packaging company IntraPac International from funds managed by CI Capital Partners.

Headquartered in Mooresville, North Carolina, US, IntraPac is a designer and producer of speciality rigid packaging solutions such as sticks, jars, vials, closures, spouts, bottles, tubes and metered dose inhaler can coating services.

The company mainly offers products to customers operating in the personal care, household, food and beverage, and pharmaceutical industries.

“We’re grateful for CI Capital’s support throughout its ownership and look forward to building on the solid foundation it helped us establish.”

IntraPac chief executive officer Ray Grupinski said: “ONCAP’s strong investment track record and deep knowledge of the packaging industry will add substantial value as we embark on our next phase of growth.

“We’re grateful for CI Capital’s support throughout its ownership and look forward to building on the solid foundation it helped us establish.”

Terms of the transaction have not yet been disclosed.

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ONCAP managing director Ryan Mashinter said: “IntraPac has an exceptional reputation for its high-quality products and customer service, which has led to strong growth and established the company as a market leader in many of its segment.”

In collaboration with the IntraPac management team, ONCAP IV invested $120m in equity.

In connection with the transaction, IntraPac was advised by William Blair & Company and ONCAP was advised by Berenson & Company.

An affiliate of Berenson & Company also made an equity investment in IntraPac.

The company currently has more than 800 employees with nine manufacturing units located in Canada, the US and Costa Rica.