Technimark LLC has long prided itself on being an innovative company not afraid to embrace new technology to help the company grow.
And now, more than a year after Pritzker Group invested in the injection molding firm, it's more of the same as the company is pushing into the health care field for the first time.
“Our goal here is, frankly, to build a world-class business, a multibillion-dollar business and the opportunity to do it with quality management,” said J.B. Pritzker, who heads Pritzker Group with his brother, Tony.
The Pritzker brothers brought some deep pockets and a well-known name with them when they purchased a majority of Technimark in April 2014.
Their Chicago-based family is one of the richest in the world, and J.B. and Tony use Pritzker Group as their private investment vehicle. With no other investors, they can pick and choose what they like. And they certainly like Technimark.
“There are a lot of different reasons why we want to be in the plastics business. One thing is packaging is become a very big deal,” Tony Pritzker said.
“You really have to have the technical skill. It's something that has to be attractive to the customer. There's a lot of skill in being able to do it and do it with quality and do it with great design. That's attractive to us,” he said.
For Technimark, teaming with the Pritzkers allowed the company access to capital to continue to expand.
“Technimark, we've been growing very fast in consumer packaging for the past 15 years, and the way we've been able to grow is taking share and using innovation and new technology to make our customers' products better,” said Technimark CEO Brad Wellington, son of company founder Don Wellington. His family retains a minority stake in the firm.