US-based private investment firm First Atlantic and TPG’s middle market and growth equity platform have divested packaging company Resource Label Group.

The companies have not disclosed the financial terms of the transaction.

Resource Label produces pressure-sensitive labels, shrink sleeves and radio frequency identification/near field communication (RFID/NFC) technology.

The company serves various sectors, including the food, beverage, personal care, chemical, household products and pharmaceutical industries.

First Atlantic chairman and CEO Roberto Buaron said: “Resource Label Group is an outstanding business and we are very pleased by the transformation we have helped it achieve.

“Led by CEO Mike Apperson, Resource Label’s management team has done an excellent job strategically scaling the business to serve diversified, attractive and high-growth end markets across North America and expand its customer base and end-market penetration.

“Resource Label has grown impressively in recent years and I am confident it is well-positioned to accelerate growth in the years to come.”

First Atlantic managing director Emilio S Pedroni said: “We are pleased to have supported Resource Label’s transformation from a small, regional label company into the largest provider of pressure sensitive and other label solutions focused on small and medium-sized customers.

“We wish the entire Resource Label team continued success.”

Dechert served as legal advisor to Resource Label, while Harris Williams acted as the company’s financial advisor.

Since being acquired by First Atlantic in 2011, Resource Label has grown significantly, expanding its product offerings and operations.

The Tennessee-based company employs more than 1,400 associates in the US and Canada.

Resource Label president and CEO Mike Apperson said: “First Atlantic and TPG Growth have been instrumental in helping us execute our growth plans.

“Their unwavering support has allowed us to focus on our customers, grow our capabilities and achieve market leadership.”