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Brian Bauerbach, President and CEOWith a long-standing history of supplying high-quality Child Resistant Closures and jars, Mold-Rite Plastics (MRP) addresses the market needs by offering innovative products in a faster, flexible, and responsive manner. “Not only do we provide an expansive product portfolio, but we ensure that compliance and safety are integral parts of our value proposition,” says Brian Bauerbach, the president and CEO at Mold-Rite Plastics.
At its core, MRP offers the most extensive line of Child Resistant Closures ranging in sizes from 15mm to 89mm, with the most diverse offering of styles to meet all customer and consumer needs. “We accommodate all aspects of functionality with ergonomic designs, making access protected yet functional while offering anything from a universal pictorial option to specific text and even plain to allow branding,” states Bauerbach.
MRP’s quality products offer security for the manufacturer that their products are protected throughout their entire lifecycle with the perfect combination of container, closure, and seal.The consumer can be confident that the company’s packaging will protect their content from unwanted access while still offering a senior-friendly solution.
One example of MRP’s ability to provide a product that met the need in the market was the design and development of a CR-Jar. Prior to this design, the jar market was primarily built around the personal care market, and jars were not made to accommodate child-resistant closures. With interest in utilizing jars for pharmaceuticals (lidocaine, CBD, Iron, etc.), a need for a jar that mates flush with a child-resistant closure was critical. To this end, MRP developed an offering of CR-Jars with three sizes.
Having carved a unique niche, MRP will continue to invest in the expansion of its facilities to add capacity and increase the ability to meet customers’ ever-increasing demand in the future. The company has invested over $35 million in just the last 16 months and will accelerate that expansion and growth under its new private equity ownership, Clearlake Capital Group. Clearlake’s focus on the healthcare market make it a great fit for MRP to expand its pharma product portfolio of offerings and continue to service the industry with high-quality innovative offerings.
Company
Mold-Rite Plastics (MRP)
Management
Brian Bauerbach, President and CEO
Description
Mold-Rite Plastics is a leading provider of high-quality, rigid-plastic packaging components used every day by millions of consumers around the globe
“The transaction enables MRP to strengthen its balance sheet and provides liquidity to capitalize on growth initiatives while delivering sustainable packaging solutions to our valued customers and continuing to build upon our long-term relationships with our supply partners,” Jim Fitzgerald, CEO, and Bruce Manning, chief financial officer, of MRP, said. “We would like to thank everyone involved in the transaction for their continued support and partnership as we rebound from customer inventory destocking headwinds and pursue the next phase of MRP’s growth.”
Evercore Group served as exclusive financial advisor, and Kirkland & Ellis served as exclusive legal advisor to the company. Perella Weinberg Partners served as exclusive financial advisor, and Davis Polk & Wardell served as exclusive legal advisor to the first lien ad hoc group of lenders.