Oliver Products acquired by Berwind Group
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.