Precision Concepts is a designer and manufacturer of specialty rigid packaging solutions, as well as a custom injection molder of plastic components
Investment
US$118 million
Fund
ONCAP IV
Period
December 2017 – Present
ONCAP Team
Transaction Summary
ONCAP acquired Precision Concepts (formerly “IntraPac”) in December 2017.
Business Description
Based in Mooresville, North Carolina, Precision Concepts is a designer and manufacturer of specialty rigid packaging solutions including sticks, jars, vials, closures, spouts, bottles, and tubes. Precision Concepts' products are primarily sold to customers operating in the personal care, household products, food and beverage, and nutraceutical industries. Following the divestiture of the medical business in July 2023, Precision Concepts is now a pure-play consumer packaging business with ~800 employees across Canada, the United States and Costa Rica.
Investment Thesis
ONCAP was attracted to Precision Concepts for several reasons, including its: (i) strong underlying non-cyclical growth trends, (ii) leading positions within several niche markets, (iii) strong diversification across several metrics (customers, facilities, end market, manufacturing process, supplier, etc.), (iv) strong customer relationships, (v) talented management team that is keen to see the business continue its growth trajectory, and (vi) organic and acquisition growth opportunities to facilitate the entrance into new product categories, geographic expansion and added depth in existing product categories.