Tray-Pak Corp., a packaging thermoformer, has a new majority owner. The buyer is TPC Partners LLC, an affiliate of Archbrook Capital Management LLC of West Conshohocken, Pa.
The deal marks the first major change in ownership for Tray-Pak since David Bestwick founded the Reading-based thermoformer in 1975, according to the companies.
Tray-Pak employs 250, operates 44 thermoforming lines in nearly 200,000 square feet of space and offers design, in-house toolmaking, rapid proto- typing 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. Myers was previously executive vice president at WinCup Inc. Prior to that, he 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,” Myers said in a news release. “We have a great partner with TPC Partners and we look forward to executing on the opportunities this partnership brings to our company”
Tray-Pak President Randy Simcox said, “We are excited to have someone with Scott's experience and background join our management team.”
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