TPC Partners Acquires Tray-Pak, Scott Myers Joins as CEO |
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Tray-Pak Corporation
PO Box 14804
Reading, PA, 19612-4804
USA
Press release date: September 30, 2009
Reading, Pa. -- TPC Partners, LLC, an affiliate of Archbrook Capital Management, LLC today announced it had acquired a majority interest in Tray-Pak Corporation, one of the leading manufacturers of custom thermoformed plastic packaging products. Tray-Pak serves a national customer base and employs 275 people. The acquisition marks the first major ownership transition of the company since David M. Bestwick founded it in 1975.
As a majority shareholder of Tray-Pak, TPC Partners plans to work closely with management to position the Company for continued strong growth in the ever-evolving thermoforming market. "Tray-Pak is a respected part of the Reading business community and a first-class innovator in the plastic packaging sector. The company has a long record of providing high-quality products and services to its customers and we look forward to building upon that strong record of success," said John McGlinn, a partner of TPC Partners and Reading, Pa. native.
In addition, Tray-Pak announced that Scott Myers has joined the company as chief executive officer. Mr. Myers comes to Tray-Pak from WinCup, Inc., a leading manufacturer of disposable cups, bowls, containers and lids, where he was executive vice president. Previously, Mr. Myers was president and chief executive officer of Superior Tube Company in Collegeville, Pa. and held a number leadership positions in general management, marketing and manufacturing at Carpenter Technology Corporation in Reading, Pa.
"I am very excited to have the opportunity to work with the dedicated and talented employees at Tray-Pak as we build upon the companyfs strong record of achievement. We have a great partner with TPC Partners and we look forward to executing on the opportunities this partnership brings to our company," said Myers.
Myers joins the existing management team at its headquarters in Reading, Pa. "We are excited to have someone with Scottfs experience and background join our management team and we will continue to work hard to deliver on the vision Mr. Bestwick set for the company 35 years ago," said Randy Simcox, president of Tray-Pak.
ABOUT TPC PARTNERS: TPC Partners, LLC is an affiliate of Archbrook Capital Management, LLC based in West Conshohocken, Pa. www.archbrook.com
ABOUT TRAY-PAK, CORP: is a custom thermoformer of plastic packaging servicing the Confectionery, Bakery, Food, Medical, Electronics and Consumer Products Industries. www.traypak.com.
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