Headquartered in Plattsburgh, N.Y, Mold-Rite is a provider of value-added packaging components, such as jars, dispensing closures, and child-resistant closures, to a variety of recession resilient end-markets including the healthcare and wellness, specialty food, and personal care sectors. Financial terms of the transaction were not disclosed.
"We are thrilled to partner with Clearlake, as the firm truly understands the packaging components industry and will help Mold-Rite capitalize on emerging growth trends," said Brian Bauerbach, President and CEO of Mold-Rite. "Our combination of innovative design solutions with a customer-centric approach has made MRP a trusted supplier. Clearlake's operational knowledge and resources will allow us to grow our position in the market while we continue to innovate and provide quality products and services to our valued customers across the healthcare and consumer packaging segments in which we participate."
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"Brian and the Mold-Rite team have continued to build on the Company's position as a key player within health and wellness and other targeted markets that have demonstrated growth and resilient demand across economic cycles by creating a comprehensive line of caps and closures and investing in processes and technology," said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Managing Director, of Clearlake. "The addition of Mold-Rite to our portfolio highlights our continued thesis in the healthcare and wellness packaging markets. We believe long term consumer trends and preferences favor providers focused on sustainability and innovation. As such, we look forward to partnering with the MRP team to leverage our O.P.S.® framework and continue driving growth for this exciting platform."
"Mold-Rite's differentiated range of high-quality packaging solutions, combined with its focus on sustainability and customer satisfaction, have positioned the company well within its target end-markets," added Dilshat Erkin, Vice President at Clearlake. "We look forward to supporting Brian and the Mold-Rite team as they execute on the company's growth initiatives, both organically and by completing strategic acquisitions in this highly fragmented sector."