TCG Legacy, a portfolio company of Core Industrial Partners, a Chicago-based private equity firm, has acquired MedLit Graphics, a provider of packaging and labeling solutions for the pharmaceutical industry.
Frank Papa, Senior Partner of Core, said, “MedLit and TCG Legacy are highly complementary players in the printing and packaging space. The MedLit team’s extensive knowledge of the broader pharmaceutical industry, state-of-the-art equipment, and complementary product portfolio will enhance TCG Legacy’s ability to serve pharmaceutical customers as we continue to build a leading printing and packaging franchise focused on pharmaceutical and healthcare end markets. This acquisition significantly expands TCG Legacy’s packaging capabilities for pharmaceutical production applications, and we’ll continue to actively pursue acquisitions, similar to MedLit, that simultaneously broaden our customer base, enhance our service offering and deepen our presence in the attractive pharmaceutical and healthcare end markets.”
Lakshman Samala and Rao Ponugoti, co-presidents of MedLit, said, “Since MedLit’s inception, we’ve been committed to providing outstanding speed, quality, and service for our customers with the goal of building the business into a leader in pharmaceutical packaging. We’ve now reached a critical turning point in our growth trajectory, and we believe that leveraging TCG Legacy’s complementary capabilities will yield immediate benefits for our customers and will help us take MedLit to the next level.”
Winston & Strawn LLP provided legal representation to Core and TCG Legacy in the transaction. Sperry, Mitchell & Co served as exclusive financial advisor to MedLit.