Apr 30 2014
Pritzker Group Private Capital today announced that it acquired Asheboro, N.C.-based Technimark, a leading global manufacturer of custom rigid packaging solutions, from Quad-C Management.
Technimark’s management team, and the family of founder Donald Wellington, invested alongside Pritzker Group Private Capital and will continue to lead the company. The purchase price was not disclosed.
Technimark is a global manufacturer of custom rigid plastic packaging and components, primarily for the consumer packaged goods, household care and specialty industrial markets. Founded in 1983, Technimark is a market leader focused on product innovation, technical excellence and exceptional service.
Technimark provides a full range of services including packaging design and production, materials recycling and product distribution. It operates nine facilities located in the United States, Mexico, Germany and China.
“Technimark is poised to grow with its customers as they look to partner with global packaging suppliers that can help them reduce costs and improve product differentiation. Our permanent, proprietary capital base gives Technimark the long-term resources it needs to continue expanding its geographic footprint and product capabilities,” said Michael Nelson, Pritzker Group Private Capital investment partner.
Tony Pritzker, Pritzker Group managing partner, added, “Our acquisition of Technimark exemplifies Pritzker Group Private Capital’s strategy of investing in clear market leaders with excellent management teams and attractive growth prospects. We look forward to this partnership.”
“Pritzker Group Private Capital is the perfect partner for Technimark’s long-term growth plans. The Pritzkers have a history of being a long-term partner and excellent stewards of the companies they acquire,” said Don Wellington, Technimark chairman and founder.
Technimark CEO Brad Wellington added, “The Pritzker team fully embraces our mission and shares our commitment to providing high-quality, innovative products that delight consumers and help our customers achieve their goals.”
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which is the largest technology venture investor based in the Midwest; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and healthcare sectors. The firm’s permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit pritzkergroup.com.
About Technimark
Asheboro, N.C.-based Technimark is a leading, global provider of custom rigid plastic packaging and components. For over 30 years, Technimark has provided customers with customized, end-to-end solutions based on technology and innovation. With facilities in the United States, Mexico, China and Germany, the Company delivers high quality products on a global basis primarily for consumer packaged goods, household care and specialty industrial customers. For more information, please visit technimark.com.