Oliver Products acquired by Berwind Group
13/04/2012
Oliver Products, the parent company of Oliver-Tolas Healthcare
Packaging and Oliver Packaging and Equipment, has been acquired by an affiliate
of the Berwind Corporation.
Oliver Products has been owned by private equity investment
company Mason Wells since May 2007. During Mason Wells ownership significant investment including the
acquisition of Tolas Healthcare Packaging, led to the creation of a state of
the art Oliver-Tolas facility in Europe, the establishment of Oliver-Tolas in Suzhou,
China, and the relocation of Oliver Packaging and Equipment to a new larger
facility in Walker, Michigan, USA.
Berwind is a fifth generation, family owned investment company
based in Philadelphia, Pennsylvania, US. From beginnings in 1886 as a coal mining company, Berwind has evolved into
a portfolio of diverse manufacturing and service companies. The company’s announcement describes
Berwind as having a long-term buy and hold strategy.
"We are thrilled that Berwind is acquiring Oliver Products,” said
Jerry Bennish, Oliver Products President and CEO. "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.”
There are no changes to the management teams as a result of the
acquisition. Berwind will continue
to support the strategy of investment and growth for both Oliver-Tolas
Healthcare Packaging and Oliver Packaging and Equipment.
Oliver-Tolas Healthcare Packaging is a supplier of sterile grade die cut lid, rollstock and pouch products. Oliver-Tolas has manufacturing operations in Grand Rapids, MI, Feasterville, PA, and Hamilton, OH, USA, and in 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.
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