Clearlake Capital Group is buying Mold-Rite Plastics from Irving Place Capital. Mold-Rite makes packaging parts, such as jars, dispensing closures and child-resistant closures for the healthcare, food, and personal care sectors.

“The addition of Mold-Rite to our portfolio highlights our continued thesis in the healthcare and wellness packaging markets,” said José E. Feliciano, co-founder and managing Partner, and Arta Tabaee, managing director, of Clearlake. “We believe long term consumer trends and preferences favor providers focused on sustainability and innovation.”

Evercore and Deutsche Bank Securities Inc. are advising Clearlake. William Blair is advising Mold-Rite.