By: Michael Lauzon
December 9, 2013
Private equity firm Mason Wells has renamed its acquired rigid medical packaging producer Nelipak Corp.
Mason Wells of Milwaukee completed the previously announced purchase from Sealed Air Corp. on Dec. 9. The business will operate under the name Nelipak Healthcare Packaging. It is owned by Mason Wells, management and co-investors.
Sealed Air said Nov. 13 that it was exiting the rigid medical packaging market to focus on core businesses of flexible packaging for food, protective applications, high-heat uses, cleaning and hygiene supplies and other specialty markets. Sealed Air will continue to supply flexible films to the medical industry.
Nelipak operates plants in Cranston, R.I.; Venray, Netherlands; Galway, Ireland, and San Jose, Costa Rica. It thermoforms trays and blister packs from PET sheet and contains clean room manufacturing. Although Mason Wells includes other packaging companies in its portfolio, Nelipak will be an independent business not affiliated with any other Mason Wells business.
“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,” stated Mason Wells director Jay Radtke in a news release.
“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,” added Nelipak President and CEO Clas Nistoft.