Technimark, a global manufacturer of custom rigid plastic packaging and components, has acquired Tool & Plastic Industries Ltd., a supplier of injection molded products for the medical device, pharmaceutical, and consumer product sectors. The company is headquartered in Longford, Ireland, with an additional facility in Ostrava, Czech Republic. Technimark is based in Asheboro, NC, with additional facilities in the United Kingdom, Mexico, China, and Germany. It is backed by Pritzker Private Capital. Financial terms of the transaction were not disclosed.
Tool & Plastic has been in operation for 52 years, specializing in contract cleanroom molding and assembly services. The company operates from a number of ISO Class 8 cleanroom environments in Ireland and from an IATF 16949–compliant facility in the Czech Republic. Tool & Plastic has continually invested in state-of-the-art technology, allowing for high-quality manufacturing services and a longstanding reputation for excellence, said Technimark in its announcement.
The combined company will have 13 facilities and more than 4,400 employees worldwide.
“The acquisition by Technimark represents a strategic fit for the business in Ireland and the Czech Republic, and we look forward to developing and growing the business on the solid foundation already in place,” said Tool & Plastic co-owner Declan O’Rourke.
“Tool & Plastic’s leadership in its core healthcare markets, combined with Technimark’s manufacturing expertise, healthcare customer relationships, and scale create a market leader with significant opportunities for future growth,” said Brad Wellington, CEO of Technimark. “Tool & Plastic will help us deliver even more value to our customers, and we are excited to welcome them to the Technimark family.
“By enhancing our ability to serve customers across Western and Eastern Europe, these acquisitions bolster our long-term growth strategy in the global healthcare market,” added Wellington. “Technimark is well-positioned to help our clients apply advanced and innovative technology-based solutions from design and engineering through production, including assembly and packaging of the final product.”