Etten-Leur, The Netherlands, April 21, 2020
-- Tjoapack Netherlands B.V., a global contract packaging organisation (CPO) for the pharmaceutical industry, today announced a majority investment from Ampersand Capital Partners, a private equity firm that specializes in partnering with entrepreneur-led healthcare companies. Ampersand’s investment will be used to expand Tjoapack’s capabilities to meet growing industry demand for high quality pharmaceutical packaging services across different dosage forms.
In conjunction with the deal, Dexter Tjoa, Tjoapack’s Director of Corporate Strategy has been appointed as CEO. Eric Tjoa, the Company’s founder and previous CEO, will retain a seat on the Board of Directors.
Dexter Tjoa said, “At Tjoapack, we are committed to shaping the future of the pharmaceutical supply chain and meeting the ever-changing demands of the industry. With that comes ensuring we have the capacity and capabilities to provide a comprehensive set of services to our global customer base.”
Tjoapack has immediate plans to invest in expanding its automated packaging capabilities, including for injectable products, allowing the Company to cater to market demand for pre-filled syringes and vial packaging.
Mr. Tjoa continued, “We made the decision last year to seek investment from a strong financial partner with experience in our industry to help us achieve our long-term strategic goals, and we found Ampersand to be an excellent fit. It is a pleasure to welcome Ampersand as a partner to Tjoapack.”
David Parker, General Partner at Ampersand Capital Partners added, “Over the past 30 years, the Tjoa family has built an efficient, well-run business recognized by global pharmaceutical companies for its high quality and innovation. The Company’s commitment to steady growth as well as assuring the safe, secure supply of medicines for patients aligns perfectly with Ampersand’s values. We look forward to supporting Tjoapack’s management team to take the business to the next level.”
Marktlink Mergers and Acquisitions advised Tjoapack in the investment transaction.
Founded in 1989, Tjoapack is a contract packager of medicines servicing clients across five continents and 42 countries. The CPO specialises in primary packaging for solid dosage forms, secondary packaging and unit dose packaging and now has a total of 19 packaging lines for blisters, wallets and bottles. Using these lines, it packages around 26 million packs of pharmaceutical products per year, which equates to around 1.4 billion tablets.
For more information, please visit: www.tjoapack.com
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, The Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Gyros Protein Technologies, Talecris Biotherapeutics and Viracor-IBT Laboratories.