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This content was submitted directly to this Web site by the supplier.Article | April 11, 2012
Oliver Products is 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.
Since May of 2007, Oliver Products has been owned by Mason Wells, a private equity investment company. Oliver-Tolas Healthcare Packaging and Oliver Packaging and Equipment have prospered with exceptional growth during Mason Wells ownership through significant investment including the acquisition of Tolas Healthcare Packaging, creation of a state of the art Oliver-Tolas facility in Europe, establishing Oliver-Tolas Suzhou, China, and the relocation of Oliver Packaging and Equipment to a new larger facility in Walker, Michigan.
Berwind is a fifth generation, family owned investment company based in Philadelphia, PA. With its roots dating to 1886, Berwind has evolved from its beginning as a coal mining company, to a diversified portfolio of highly successful manufacturing and service companies which are leaders in their market niche. 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.
"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.
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