US-based private equity firm BPOC has made a strategic growth investment in consulting service provider Networking Packaging Group.
Also known as Network Partners, Networking Packaging provides consulting services related to packaging engineering, project management, regulatory affairs, labelling and quality assurance.
The company has more than 250 employees across the US and serves major medical devices and pharmaceutical companies worldwide.
BPOC partner Pete Magas said: “As medical device and pharmaceutical markets become more complex, companies are increasingly looking to external resources to provide the expertise and specialised knowledge needed to navigate these complexities.
“We have been extremely impressed with Network Partners’ team and the success they have achieved to date. We look forward to supporting the company’s growth strategies and long-term vision through this strong partnership.”
Networking Packaging will use BPOC’s investment to expand its geographic presence and add to its range of services.
The financial terms of the transaction have not been disclosed. The deal is effective immediately.
Boutique investment banking firm CMD Global Partners served as financial adviser to BPOC during the process.
Align5 acted as Networking Packaging’s financial adviser for the transaction while Saul Ewing Ernstein & Lehr served as legal counsel to the company.
Networking Packaging co-founder and CEO Tim Early said: “We are thrilled to partner with BPOC as we enter our next stage of growth.
“Network Partners has grown to become a recognised leader in the life sciences consulting market. Together, we believe this partnership will allow us to continue to expand our services and capabilities to better serve our customers.”
Since its foundation in 2015, Networking Packaging has continuously expanded its client base.
Last March, the company acquired The FlexPro Group in an effort to extend its pharmaceutical and biotech offering.