Tekni-Plex acquired by investment firm Genstar Capital
Wayne, Pa.-based Tekni-Plex has locations in Belgium, China, Costa Rica, Germany, India, Italy, Northern Ireland, and the U.S.
Packaging materials, medical compounds, and medical tubing supplier Tekni-Plex Inc. has been acquired from affiliates of American Securities by private equity firm Genstar Capital for an undisclosed amount.
Founded in 1967 and headquartered in Wayne, Pa., Tekni-Plex has locations in Belgium, China, Costa Rica, Germany, India, Italy, Northern Ireland, and the U.S. The company employs about 2,500 workers.
“We have tracked the company for many years and believe the strength of Tekni-Plex’s team, combined with the quality of the physical and technical assets, will enable the company to accelerate growth going forward while continuing to be the provider of choice in its markets,” Rob Rutledge, managing director of Genstar, said in a statement.
Headquartered in San Francisco, Genstar is focused on investments in targeted segments of the industrial technology, healthcare, financial services, and software industries.