Oliver Products, the parent company of Oliver-Tolas Healthcare Packaging and Oliver Packaging and Equipment, has been acquired by an affiliate of the Berwind Corp., Oliver Products reported in a press release. Oliver-Tolas Healthcare Packaging supplies sterile-grade die-cut lid, rollstock, and pouch products for medical and pharmaceutical applications.
Mason Wells, a private equity investment company, has owned Oliver Products since May 2007, and during this time the company acquired Tolas Healthcare Packaging, established an Oliver-Tolas facility in Europe and Oliver-Tolas Suzhou, China, and relocated Oliver Packaging and Equipment to a new larger facility in Walker, MI.
“We are thrilled that Berwind is acquiring Oliver Products,” said Jerry Bennish, Oliver Products President and CEO, in the press release. “We have been very successful under Mason Wells ownership. Mason Wells provided the resources to invest and grow both of our businesses. They have been an absolutely fantastic group to work with and have been very supportive owners. We see this continuing under Berwind’s ownership.”
Berwind is a fifth-generation, family-owned investment company based in Philadelphia, PA. With its roots dating to 1886, Berwind began as a coal mining company and has since evolved into a diversified portfolio of highly successful manufacturing and service companies. Unlike most private equity investment companies, who acquire companies with a plan to re-sell them, Berwind has a long-term buy and hold strategy.
There are no changes to the management teams as a result of the acquisition, Oliver Products reported. Berwind will continue to support the strategy of investment and growth for both Oliver-Tolas Healthcare Packaging and Oliver Packaging and Equipment.
Oliver-Tolas has manufacturing operations in Grand Rapids, MI, Feasterville, PA, Hamilton, OH, Venray, The Netherlands, and a sales office and future manufacturing operation in Suzhou, China. For more information relating to Oliver-Tolas Healthcare Packaging, visit www.oliver-tolas.com.