Private equity firm buys stake in Pa. thermoformer Tray-Pak

READING, PA. (Sept. 25, 1:50 p.m. ET) -- Tray-Pak Corp., a custom packaging thermoformer, has a new majority owner. The buyer is TPC Partners LLC, an affiliate of Archbrook Capital Management LLC of West Conshohocken, Pa.

According to the companies, the deal marks the first major change in ownership for Tray-Pak since David Bestwick founded the Reading-based thermoformer in 1975.

Tray-Pak employs 250, operates 44 thermoforming lines in nearly 200,000 square feet of space and offers design, in-house toolmaking, rapid prototyping and digital scanning. Earlier this year, Bestwick was named Thermoformer of the Year by the Society of Plastics Engineers.

Tray-Pak also announced that Scott Myers has joined the company as CEO. He was previously executive vice president at WinCup Inc. Prior to that, Myers was president and CEO of Superior Tube Co. in Collegeville, Pa.

“I am very excited to have the opportunity to work with the dedicated and talented employees at Tray-Pak as we build upon the company’s strong record of achievement. We have a great partner with TPC Partners and we look forward to executing on the opportunities this partnership brings to our company,” Myers said in a news release.

“We are excited to have someone with Scott’s experience and background join our management team and we will continue to work hard to deliver on the vision Mr. Bestwick set for the company 35 years ago,” said Tray-Pak President Randy Simcox.

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