Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • CEO Issue
    • Diversity
    • Best Places to Work
      • 2022 winners
    • Processor of the Year
    • Rising Stars
    • Women Breaking the Mold
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • BRICS and Plastics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • Reuters Responsible Business Europe 2022
    • Reifenhäuser Technologies Livestreams
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Resin Prices
    • All Resins
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
April 28, 2014 02:00 AM

Technimark strikes deal aimed at growth

Jim Johnson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Pritzker
    Michael Nelson

    In Technimark LLC, the Pritzker Group investment firm saw a company with what it calls a great management team and great opportunities.

    In Pritzker Group, Technimark saw the chance to work with a financial partner looking for a long-term relationship and one that can help the rigid plastic packaging and components maker continue to grow around the world.

    So Pritzker has taken a majority stake in the Asheboro, N.C.-based company, buying out investment firm Quad-C Management Inc.'s share of the business.

    Members of Wellington family, including founder Don Wellington and current CEO Brad Wellington, continue to own a minority of the company along with other senior managers.

    “What we're focused on is building great businesses for the long term. So we invest in great management teams and great opportunities like Technimark,” said Michael Nelson, investment partner in the private capital team at Pritzker Group.

    Nelson, along with the Wellingtons, spoke about the deal literally just minutes after it closed April 25.

    “The Pritzker Group was a great fit for Technimark for several reasons,” Brad Wellington said. “They supported our vision and supported our growth strategy.”

    “They are very stable. They have a long-term investment strategy, which is great for all of our stakeholders, our customers, our employees, our vendors, so that we can have a very stable ownership structure going forward to support our growth,” he said.

    Pritzker Group is led by Tony Pritzker and J.B. Pritzker, two members of the famous Pritzker family that made billions thanks, in part, to Hyatt hotels.

    Using their own money, the Pritzkers feel no pressure to flip investments after a set period of time, typically five to seven years for many private investment firms. And that was attractive to Technimark.

    “We have a completely flexible holding period,” Nelson said. “We have a permanent, proprietary capital base that allows us to invest in the long term. We're very different from a traditional private equity fund in that we don't have outside investors and therefore our decisions are driven purely on building great companies like Technimark over the long term,” Nelson said.

    Quad-C, of Charlottesville, Va., had been involved with Technimark since 2007 and let it be known late last year it was time to cash out of the investment. Pritzker Group, which focuses on businesses with between $100 million and $500 million in annual sales, emerged as the winner.

    Pritzker Group, based in Chicago and Los Angeles, likes to invest in three key areas: manufactured products, healthcare and services.

    “The packaging sector, as a whole, is a core proactive area of investment focus for the Pritzker Group. So we certainly were aware of Technimark. It's one of the leaders on the planet in terms of injection molding capabilities,” Nelson said.

    While Technimark has operations around the world, the company also realizes a need to continue growing with its customers.

    Consumer packaging is a core business for Technimark, and as consumer products companies expand globally, the packaging company needs to follow.

    “They are taking a more strategic look at their supply base and they want us to be able to grow with their plans,” Don Wellington said.

    “As we become more of a global corporation, it gives us the foundation to do that more quickly and more securely,” he said. “That was important to our picking Pritzker as a company we wanted to work with.”

    Don Wellington founded the company back in 1983 and is still involved as chairman for the company with nine locations in the United States, Mexico, Germany and China.

    With the Technimark deal now closed, Pritzker Group could make additional investment in plastics packaging in the future.

    “Injection molding clearly is a space that we like. We also like certain parts of the flexible packaging industry. As you know, it's a very big industry with a lot of continued fragmentation. So we think there's great opportunity for further investment there,” he said.

    “Our strategy is to find clear market leaders serving growing global markets with excellent management teams. Technimark certainly has that. We don't anticipate any changes to the senior leadership of the company or the employee base,” Nelson said.

    Technimark's services include packaging design and production, recycling and product distribution. Major customers include Procter & Gamble Co., Estee Lauder Cos. Inc., Clorox Co. and Wal-Mart Stores Inc., the company said.

    Terms of the deal were not disclosed.

    RECOMMENDED FOR YOU
    Hillenbrand makes another deal in plastics machinery
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    IRS provides guidance for how excise taxes will impact resin pricing
    2
    Industry veterans plan nationwide network of PET recycling plants
    3
    German packaging, recycling firm plans $48M West Virginia facility
    4
    Eastman Chemical looking to build another major plastics recycling facility
    5
    California lawmakers give early nod to massive EPR, plastics bill
    SIGN UP FOR TO RECEIVE THESE EMAILS AND ENEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Urethanes Technology
    • European Rubber Journal
    • Tire Business
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • CEO Issue
        • Diversity
        • Best Places to Work
          • 2022 winners
        • Processor of the Year
        • Rising Stars
        • Women Breaking the Mold
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • BRICS and Plastics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • Reuters Responsible Business Europe 2022
        • Reifenhäuser Technologies Livestreams
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Resin Prices
      • All Resins
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified