Spartech Acquires Leading Manufacturer of Medical-Grade Engineered Films and Plastics, Tufpak™, Inc.
ST. LOUIS--(BUSINESS WIRE)--Dec 3, 2020--
Strengthening its 50 years of proven plastics expertise and offerings, Spartech announces the acquisition of Tufpak™, Inc., a leading manufacturer of custom and stock engineered plastic films designed for biohazard bags, medical devices and biopharma packaging.
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Tufpak™ Secura'T™ engineering plastic bags. (Photo: Business Wire)
“This acquisition expands our product line to include medical and biohazard plastic film capabilities with industry-leading packaging for biological, chemical, pharmaceutical and laboratory research applications,” said Spartech CEO John Inks. “We have always admired Tufpak’s focus on innovative plastic film development and are proud to welcome them to the Spartech team.”
Ossipee, N.H.-based Tufpak is globally recognized for its autoclave bags and pouches for biohazardous waste containment, transportation and disposal that meet all U.S. federal and state requirements and regulations. The company specializes in a unique, proprietary polypropylene blown film extrusion process which produces superior plastic physical properties as compared to standard blown film producers and converters. Tufpak’s brand of SUPROP ® polypropylene film offers high temperature resistance, enhanced strength, sealability and chemical resistance.
Additional product offerings include medical device packaging, biopharmaceutical aseptic sampling bags, breather bags for biological related industries, dust covers for medical devices and appliances, specialty military packaging, closure bags and specimen bags.
“Tufpak was acquired by our father almost 29 years ago when the company was a commodity bag maker, but with my brothers, we expanded the company vision to become a manufacturer of functional products serving the more attractive technical market,” said Tufpak owner Mike Wadlinger. “By developing a proprietary film-making capability, we have been able to produce complex bag and film structures that satisfy the demanding requirements of multiple markets, most notably the regulated autoclave biohazard bag products used in clinical healthcare markets. We are excited to be part of the Spartech family that shares our dedication to technical development, quality, and delivering outstanding results.”
Chris Pierce, a Managing Director of Nautic, said, “Spartech’s management team is one of the best I have worked with, and it is very impressive what they have accomplished to transform the business in a short time. The Tufpak acquisition is consistent with our strategy to increase Spartech’s healthcare business and add new capabilities and high margin products to the portfolio. With the Wadlingers’ continued involvement in Tufpak and the Spartech leadership team’s experience integrating acquisitions, we are confident that this will be a successful partnership.”
Headquartered in St. Louis, Missouri with a unique innovation center and 14 manufacturing facilities located throughout the United States, Spartech is a leading plastics manufacturer of engineered thermoplastic materials and specialty packaging products. Meeting exact standards for everything from food packaging to aerospace and automotive applications, Spartech continues to make a world of difference with sustainable, diverse, reliable and innovative products including UltraTuf™, Royalite ®, Korad™, PreservaPak™, and Polycast ®. https://spartech.com/
About Nautic Partners
Nautic Partners, a Providence, Rhode Island-based middle-market private equity firm, acquired Spartech in October 2019 in partnership with management. Nautic has completed 140 platform transactions throughout its 34-plus year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $25 to $250 million or more. For more information, please visit nautic.com.
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CONTACT: For Spartech
KEYWORD: MISSOURI UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MEDICAL SUPPLIES CHEMICALS/PLASTICS HEALTH MANUFACTURING PHARMACEUTICAL BIOTECHNOLOGY
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PUB: 12/03/2020 06:00 PM/DISC: 12/03/2020 06:01 PM