Gryphon-backed Pacur agreed to add on Carolex

Carolex is specialty plastic packaging materials provider Pacur's first acquisition since Gryphon acquired the platform in 2020. 

Gryphon Investors-backed Pacur agreed to add on Carolex, a PETG sheet extruder based in France. The add-on builds on Pacur’s medical device focus in Europe. Carolex is specialty plastic packaging materials provider Pacur’s first acquisition since Gryphon acquired the platform in 2020.

Press Release

Pacur, LLC, a market leading supplier of specialty plastic packaging materials for the medical device industry, announced today that it has signed a definitive agreement to acquire CAROLEX SAS, a polyethylene terephthalate glycol (“PETG”) sheet extruder based in France. The acquisition strengthens Pacur’s medical device focus in Europe and extrusion capabilities to meet the global demands of customers.

Pacur is the leading supplier of extruded PETG sheet used principally to provide rigid, high-performance packaging for medical devices. The company also produces sheet for certain specialty graphics, pharmaceutical packaging, and food packaging applications.

CAROLEX represents Pacur’s first acquisition and extends the company’s best-in-class customer service and reputation for quality into Europe. Oshkosh, WI-based Pacur is acquiring CAROLEX from epsotech Holding GmbH, a supplier of primarily thick gauge extruded plastic sheet with seven other factories in Europe. Pacur is a portfolio company of middle-market private equity firm Gryphon Investors, which invested in Pacur in 2020. Terms of the transaction, which is expected to close by year end, were not disclosed.

The CAROLEX management team will remain in place, led by Managing Director Sylvain Forestier.

John Carlson, CEO of Pacur said, “The past two years have certainly highlighted how important the entire medical supply chain has become, and has reinforced Pacur’s commitment to increasing our global presence. We are excited to join forces with Sylvain and the entire CAROLEX team and to develop a strong partnership in technology and customer satisfaction. We look forward to investing in Carolex and bringing Pacur’s market-leading capabilities in product innovation to Carolex’s European customers.”

Mr. Forestier commented, “We are delighted to become part of a top-notch global supplier. Under epsotech, we strengthened our production capacity and developed a world-class service capability, and we are now eager to join Pacur to support our next phase of growth. We look forward to continuing our commitment to innovation and leadership and gaining increased resources to better serve our customers.”

About Pacur, LLC

Founded in 1979, Pacur (www.pacur.com) is an ISO 9001 certified custom sheet extruder located in Oshkosh, Wisconsin. Pacur is the leading supplier of extruded PETG sheet used principally to provide rigid, high-performance packaging for medical devices.

About CAROLEX SAS

CAROLEX SAS (www.carolex.fr) is a leading producer of engineered thermoplastic packaging based in Longué, France. The Company has a core focus on producing high-quality packaging for the medical, pharmaceutical, food and specialist retail sectors. CAROLEX SAS sells its products throughout Europe.

About Gryphon Investors

Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.50 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

About epsotech

For more than 60 years the epsotech group (www.epsotech.com) has been developing customized plastics solutions for a wide variety of segments and markets. Each year the group supplies over 2,500 customers worldwide, combining the strengths of 6 European thick gauge manufacturing locations, 1 thin gauge competence center and a fibre manufacturing site. With more than 3000 products, epsotech offers the most comprehensive portfolio of extruded sheets, foils and fibres in Europe – striving for 100% recyclability.