“TPP is a world class injection molder. We are thrilled to have Jim and his team join the IntraPac family and work with us to further build the business in the years to come,” said Ray Grupinski, IntraPac’s CEO. “TPP is known for its talented employees, high level of customer service and strong technical capabilities. TPP will immediately become a key center of excellence within IntraPac for high precision, multi-shot molded components. In particular, TPP will bolster our existing medical business and technical capabilities for the consumer market while further accelerating our growth potential, both in the Research Triangle Park region of North America, the Dominican Republic, and at our existing Costa Rican facilities in San Jose.”
“Building TPP has been a rewarding experience because of the strong relationships we have been able to develop over the years with our customers and employees,” said Jim Piermarini, Founder, President and CEO of TPP. “I’m proud to say that we have found an excellent partner in IntraPac that will enable us to continue to grow TPP’s legacy. This merger will allow TPP to offer our current domestic and international customers an expanded array of products and services. By combining operations, we can offer our design, manufacturing and supply chain capabilities with a higher level of service in key medical and consumer markets.”
TPP is IntraPac’s second transaction under ONCAP’s ownership following the acquisition of Quality Plastics in September 2017. TPP was advised by SunTrust Robinson Humphrey.