Comar Announces Recapitalization with Graham Partners
Oct 23, 2013
Buena, New Jersey, October 23, 2013 - Comar, Inc (Comar or the Company) is pleased to announce its successful recapitalization with private investment firm Graham Partners (Graham). The transaction, and Graham's partnership with Comar's management will provide access to additional capital and resources to support Comar's global expansion plans and further broaden the Company's product development and manufacturing capabilities in North America.
Founded in 1949, Comar is a market leading designer and manufacturer of innovative packaging solutions and liquid dispensing products, serving the pharmaceutical, diagnostic, health, and personal care markets. The Company currently has manufacturing locations in Buena, New Jersey and Cayey, Puerto Rico and its major product lines include oral dispensers, dropper assemblies, dosing devices, closures, bottles, and other custom pharmaceutical and healthcare related solutions.
Michael Ruggieri, President and a Comar Shareholder, commented on the partnership, "For over sixty 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. We are very excited about our new partnership with Graham, who brings significant experience in plastic packaging and leading companies through international expansion. We have a great team of employees at Comar and I am very excited about the opportunity to lead such and extraordinary company into the next chapter of its history." Michael Ruggieri will continue to lead Comar as its President & CEO and remain a significant Comar shareholder.
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.
Adam Piatkowski, Managing Principal of Graham Partners, noted, "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." Since the firm's founding in 1988, Graham has closed over sixty acquisitions, joint ventures, financing and divestures.
P&M Corporate Finance (www.pmcf.com) served as financial advisor to Comar in the recapitalization and will continue to assist the Company in pursuing candidates in North America and Europe.