Tjoapack Netherlands announced a majority investment from Ampersand Capital Partners, a private equity firm. Ampersand’s investment will be used to expand Tjoapack’s capabilities to meet growing industry demand for 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.
“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,” Dexter Tjoa said. “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.”
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.
“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,” David Parker, General Partner at Ampersand Capital Partners said.
Marktlink Mergers and Acquisitions advised Tjoapack in the investment transaction.