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Private equity firm, Ampersand Capital Partners, has made a majority investment into contract packaging organization (CPO), Tjoapack.
Private equity firm, Ampersand Capital Partners, has made a majority investment into contract packaging organization (CPO), Tjoapack. The investment was announced in an April 27, 2020 press release.
The investment will be used to expand the capabilities of Tjoapack, comprising an expansion of the automated packaging capabilities, inkling for injectable products, which will enable the company to cater for the increased market demand in pre-filled syringes and vial packaging. Additionally, along with the investment, Dexter Tjoa, director of corporate strategy for Tjoapack, has been appointed as CEO.
“At Tjoapack, we are committed to shaping the future of the pharmaceutical supply chain and meeting the ever-changing demands of the industry,” said Tjoa in the press release. “With that comes ensuring we have the capacity and capabilities to provide a comprehensive set of services to our global customer base. 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.”
“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,” added David Parker, general partner at Ampersand Capital Partners, in the press release. “We look forward to supporting Tjoapack’s management team to take the business to the next level.”