Comar Inc. sells majority stake to investment firm
Private investment firm Graham Partners has acquired a majority stake in Comar Inc., a manufacturer of packaging solutions and liquid dispensing products for the pharmaceutical, diagnostic, health, and personal care markets with plants in New Jersey and Cayey, where it employs 50.
Comar Inc. entered the Puerto Rico market in 2010, when it acquired 100 percent of the former Universal Container Corporation’s operation in Cayey. The company has another 250 employees in Buena, New Jersey.
The terms of the transaction were undisclosed.
Last month, Comar announced its partnership with Graham will provide access to additional capital and resources to support Comar’s global expansion plans and further broaden its product development and manufacturing capabilities in North America.
“For over 60 years, Comar has been family-owned and focused primarily in North America. As we look to the future, our strategic plans include geographical expansion to serve our customers on a more global scale, as well as continuing to strengthen our leadership position in North America,” said Michael Ruggieri, president and a Comar shareholder.
“With Graham Partners at our side, we can continue growing our products such as our measuring syringes and develop our Puerto Rico facilities while we expand in Europe,” Ruggieri told Press of Atlantic City. “And we think expanding our footprint in the U.S. is just as important as growth globally.”
Graham Partners is a private investment firm focused on investing in businesses with advanced manufacturing know-how, innovative product development capabilities, and strong growth potential.
Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise as a member of The Graham Group, an alliance of independently owned and operated industrial and investment management businesses that share in the common legacy of plastic packaging entrepreneur Donald C. Graham.
“We are excited to partner with the Comar team and look forward to utilizing Graham’s industry knowledge to build on Comar’s strong capabilities and take the Company to the next level of growth and expand its geographical footprint,” said Adam Piatkowski, managing principal of Graham Partners.