Morgan Stanley Capital Partners has made an investment in Voorhees, New Jersey-based Comar, a rigid plastics packaging manufacturer of bottles, containers, liquid dosing devices and closures for the healthcare and wellness industry. No financial terms were disclosed. Jones Day advised MSCP on the transaction.
NEW YORK–(BUSINESS WIRE)–Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the Private Equity team within Morgan Stanley Investment Management, announced today that they have completed an investment in Comar Holding Company, LLC (“Comar” or the “Company”). MSCP partnered with the current management team, led by Michael Ruggieri, who will remain CEO and continue to drive organic and acquisition growth. Comar extends MSCP’s long and successful track record of partnering with founder/family-managed companies and marks the eighth platform investment in MSCP’s North Haven Capital Partners Fund VI and its second packaging investment following the backing of Kevin Keneally in acquiring Fisher / PPC Flexible Packaging in 2017.
Comar, headquartered in Voorhees, New Jersey, is a leading rigid plastics packaging manufacturer of bottles, containers, liquid dosing devices and closures predominantly for the healthcare and wellness industry. The Company services customers through eight manufacturing facilities across the U.S. and Puerto Rico ensuring coast-to-coast coverage.
Eric Kanter, Managing Director of MSCP, said, “We are excited to invest in Comar, which is a premier engineered packaging and dosing solutions provider in the U.S. Graham Partners, the prior sponsor, has invested in a world-class management team who has targeted highly attractive end markets and best in class capabilities. We look forward to supporting the talented management team during the coming years of organic and acquisition-fueled growth as the Company executes its strategy to develop increasing exposure to medical/drug delivery products.”
Mark Bye, Managing Director and Operating Partner of Morgan Stanley Capital Partners, added, “We are delighted to partner with Michael Ruggieri and the Comar team. MSCP’s investment in Comar is the culmination of a multi-year review of the rigid packaging sector and we believe the Company is primed for outsized growth.”
Michael Ruggieri, Chief Executive Officer of Comar, said, “We are excited to partner with Morgan Stanley Capital Partners and enter a new phase of growth. We are proud of the accomplishments of the entire Comar team and expect this new partnership to help us continue to deliver the highest quality products to our customers.”
MSCP was advised by Jones Day.
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies in a series of subsectors in the business services, consumer, healthcare and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.