August 2, 2013
NEW YORK — Published reports are saying that the owner of packaging and compounding company Tekni-Plex Inc. is considering selling the firm.
A New York report from Reuters in July, citing two unidentified sources, said Oaktree Capital Group LLC has hired Goldman Sachs Group to find a buyer for Tekni-Plex of King of Prussia, Pa. Tekni-Plex has eight companies under its ownership, with thermoformed packaging, medical packaging, compounding and other production worldwide.
In April, Tekni-Plex sold its Swan Hose division to another private equity group and said it would focus on core operations and invest in paying down debt. Los Angeles-based Oaktree has owned Tekni-Plex since 2008.