US-based manufacturer of rigid packaging solutions IntraPac International has completed its merger with Technical Precision Plastics (TPP).
The transaction marks the second for IntraPac under Oncap’s ownership following the acquisition of Quality Plastics in September 2017.
Established in 1984, TPP offers injection moulding of special components for medical and premium consumer applications.
The company currently operates two manufacturing locations at Mebane in North Carolina, US, and Haina in the Dominican Republic offering medical clean room and multi-shot moulding and services.
IntraPac International CEO Ray Grupinski said: “TPP will immediately become a key centre of excellence within IntraPac for high precision, multi-shot moulded components.
“In particular, TPP will bolster our existing medical business and technical capabilities for the consumer market while further accelerating our growth potential, both in the Research Triangle Park region of North America, the Dominican Republic, and at our existing Costa Rican facilities in San Jose.”
TPP president and CEO Jim Piermarini, along with his team, will join the IntraPac family and work collaboratively to further expand the business.
US-based full-service corporate and investment bank SunTrust Robinson Humphrey advised TPP on this transaction.
Piermarini said: “This merger will allow TPP to offer our current domestic and international customers an expanded array of products and services.
“By combining operations, we can offer our design, manufacturing and supply chain capabilities with a higher level of service in key medical and consumer markets.”
IntraPac produces speciality packaging solutions such as sticks, jars, vials, closures, spouts, bottles, tubes and metered dose inhaler can coating services.