US-based private equity firm GenNx360 Capital Partners has invested in Nutra-Med Packaging, a contract packaging company that supplies solutions for the pharmaceutical, health and wellness and medical device markets.
Based in Whippany, New Jersey, Nutra-Med specialises in bottling, blistering and secondary packaging, including cartoning, shrink sleeving, heat seal carding, kitting and retail pallet packing-out.
The financial terms of the investment have not been disclosed.
Following the investment, Nutra-Med vice-president Kunal Gupta will continue to lead the company as CEO, while its founder Mahesh Gupta will assume an advisory role.
Kunal Gupta said: “The Nutra-Med team and I are thankful to my father for helping us to build such a strong foundation and a culture of quality and service, from which we are now able to launch into our next chapter.
“We are excited to partner with GenNx360, whose deep operational expertise and track record of building platforms will be a tremendous asset to us as we drive our next phase of accelerated growth.
“GenNx360’s investment in Nutra-Med will enable us to continue focusing on providing best-in-class services, with a track record of on-time delivery while ensuring quality, managing costs, and providing excellent customer service.
“We will continue to build our team and our services and expand our reach to serve more pharmaceutical, health and wellness and medical device customers.”
Investment firm SVB Leerink served as Nutra-Med’s exclusive financial adviser for the transaction while Goodwin Procter acted as legal counsel to the company.
GenNx360 has said it is committed to supporting Nutra-Med in implementing its growth strategy.
GenNx360 principal Rishi Verma said: “The team at Nutra-Med has built a strong packaging services platform achieving outsized growth while maintaining a strong commitment to quality and customer delivery in an industry that GenNx360 believes to be very attractive.”