Clearlake Capital Group to acquire Mold-Rite Plastics

US investment firm Clearlake Capital Group has agreed to acquire speciality packaging solutions provider Mold-Rite Plastics from Irving Place Capital.

Mold-Rite manufactures plastic caps, jars, and child-resistant and dispensing closures with a focus on the speciality food market, as well as healthcare, wellness and personal care sectors.

“We are thrilled to partner with Clearlake, as the firm truly understands the packaging components industry and will help Mold-Rite capitalise on emerging growth trends,” said Mold-Rite’s president and CEO Brian Bauerbach.

He continued: “Clearlake’s operational knowledge and resources will allow us to grow our position in the market while we continue to innovate and provide quality products and services to our valued customers across the healthcare and consumer packaging segments in which we participate”.

Terms of the purchase were not disclosed.