The business will be part of a new company owned by Mason Wells, management and co-investors, Nelipak Corp., and operate as Nelipak Healthcare Packaging.
Nelipak has operations in Cranston, R.I., the Netherlands, Ireland and Costa Rica. It manufactures high-quality thermoformed plastic products, such as trays and blisters, for the global healthcare industry. It also provides value-added services for class II and class III medical device and pharmaceutical manufacturers around the world.
"Mason Wells is pleased to partner with Nelipak's management team to support the company's growth initiatives," said Jay Radtke, director of Mason Wells. "The Nelipak brand has been synonymous with high-quality medical and pharmaceutical thermoformed packaging for more than 60 years. The company's global locations, world-class design and tooling capabilities, modern cleanroom manufacturing, strong sales organization and experienced management team are all factors that have allowed the company to consistently meet the expectations of its customers. We believe the company provides an excellent platform for growth and is well-positioned to capitalize on a number of market and new product opportunities driven by global demographic trends."
The company's employees will remain with Nelipak, and it will continue as an independent business unaffiliated with Mason Wells' portfolio converting operations.
"Mason Wells shares our vision of becoming the global leader of thermoformed products and services focused exclusively on the healthcare industry, and they are prepared to immediately invest in new and upgraded capacity for the business," said Clas Nilstoft, president and chief executive officer of Nelipak. "They have a great track record of enhancing their portfolio companies, and with their strong financial backing and network of resources, we look forward to continuing to serve Nelipak's customers with innovative, high-quality products and services."