Accupac, Inc., a U.S. provider of outsourced manufacturing and packaging solutions to pharmaceutical and over-the-counter (OTC) personal care product manufacturers, has been acquired by Palladium Equity Partners from its previous owner J.H. Whitney Capital Partners, LLC, another private equity investment firm.
Headquartered in in Mainland, Pennsylvania, Accupac offers formulation capabilities and filling and packaging solutions to its customer base, specializing in liquid topical and oral care products, including skin creams, toothpastes, moisturizing lotions, mouthwash and other personal care products, many of which require FDA approval. All Accupac’s manufacturing facilities in Mainland, PA and Lakewood, NJ are FDA registered and cGMP compliant. Accupac employs more than 400 employees in Pennsylvania and nearly 200 in New Jersey. The company generated more than US$200 million of revenue in 2019.
During J.H. Whitney’s investment period, Accupac implemented facility improvements to substantially increase and expand manufacturing capacity. Furthermore, the company has driven “significant organic growth” with new and existing customers given Accupac’s unique ability to manufacture specialty products, explained J.H. Whitney in a release.
"Through substantial investment in people and facilities, with a constant focus on customers, Accupac has developed into a market leader. We look forward to seeing Accupac continue its successful growth with Palladium," commented Bob Williams, a Senior Managing Director at J.H. Whitney.
"We are proud of what we accomplished during our partnership with J.H. Whitney and we are excited to continue Accupac’s growth trajectory with our new partner Palladium Equity Partners. We believe that this transaction is the right step for Accupac to continue offering our customers superior quality products," added Bruce Wright, Accupac’s CEO.
The transaction terms were not disclosed.
