Rigid packager IntraPac sold to private equity firm Onex

In a deal that includes manufacturing sites in Canada, private equity firm Onex Corp. is acquiring rigid packager IntraPac International Corp. for an undisclosed price.

Mooresville, N.C.-based IntraPac manufactures sticks, jars, vials, closures, spouts, bottles, and tubes for the personal care, household products, food and beverage, and pharmaceutical industries.

The company has more than 800 employees with nine manufacturing facilities located in Canada, the U.S., and Costa Rica. Its Canadian operation is headquartered in Mississauga, Ont.

“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 segments,” said Ryan Mashinter, a managing director with Oncap, the middle-market private equity unit of Toronto-based Onex. “We’re very excited to partner with [IntraPac CEO] Ray Grupinski and the IntraPac team to grow the company both organically and through acquisitions in the years to come.”

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