Pacur LLC, a supplier of specialty plastic packaging materials for the medical device industry headquartered in Oshkosh, WI, announced today that it has signed a definitive agreement to acquire Carolex SAS, a polyethylene terephthalate glycol (PETG) sheet extruder based in Longué, France. Pacur said that the acquisition will strengthen its medical device focus in Europe as well as extrusion capabilities to meet global demand.
A leading supplier of extruded PETG sheet used for rigid packaging of medical devices, Pacur also produces sheet for certain specialty graphics, pharmaceutical packaging, and food packaging applications.
This is Pacur’s first acquisition. Carolex was part of Epsotech Holding GmbH, a supplier of primarily thick-gauge extruded plastic sheet with seven other factories in Europe. Pacur is a portfolio company of middle-market private equity firm Gryphon Investors, which invested in Pacur in 2020.
Terms of the transaction, which is expected to close by year’s end, were not disclosed.
The Carolex management team will remain in place, led by Managing Director Sylvain Forestier.
“The past two years have certainly highlighted how important the entire medical supply chain has become, and has reinforced Pacur’s commitment to increasing our global presence,” said Pacur CEO John Carlson in a prepared statement. “We are excited to join forces with Sylvain and the entire Carolex team and to develop a strong partnership in technology and customer satisfaction. We look forward to investing in Carolex and bringing Pacur’s market-leading capabilities in product innovation to Carolex’s European customers.”
Added Carolex’s Forestier: “We are delighted to become part of a top-notch global supplier. Under Epsotech, we strengthened our production capacity and developed a world-class service capability, and we are now eager to join Pacur to support our next phase of growth. We look forward to continuing our commitment to innovation and leadership and gaining increased resources to better serve our customers.”