Morgan Stanley Capital Partners Completes Investment in Comar
June 19, 2018
NEW YORK, NY — June 19, 2018
Investment funds managed by Morgan Stanley Capital Partners (MSCP), the Private Equity team within Morgan Stanley Investment Management, announced today that they have completed an investment in Comar Holding Company, LLC (“Comar” or the “Company”). MSCP partnered with the current management team, led by Michael Ruggieri, who will remain CEO and continue to drive organic and acquisition growth. Comar extends MSCP’s long and successful track record of partnering with founder/family-managed companies and marks the 8th platform investment in MSCP’s North Haven Capital Partners Fund VI and its second packaging investment following the backing of Kevin Keneally in acquiring Fisher / PPC in 2017.
Comar, headquartered in Voorhees, New Jersey, is a leading rigid plastics packaging manufacturer of bottles, containers, liquid dosing devices and closures predominantly for the healthcare and wellness industry. The Company services customers through eight manufacturing facilities across the U.S. and Puerto Rico ensuring coast-to-coast coverage.
Eric Kanter, Managing Director of MSCP, said, “We are excited to invest in Comar, which is a premier engineered packaging and dosing solutions provider in the U.S. Graham Partners, the prior sponsor, has invested in a world-class management team who has targeted highly attractive end markets and best in class capabilities. We look forward to supporting the talented management team during the coming years of organic and acquisition-fueled growth as the Company executes its strategy to develop increasing exposure to medical/drug delivery products.”
Mark Bye, Managing Director and Operating Partner of Morgan Stanley Capital Partners, added, “We are delighted to partner with Michael Ruggieri and the Comar team. MSCP’s investment in Comar is the culmination of a multi-year review of the rigid packaging sector and we believe the Company is primed for outsized growth.”
Michael Ruggieri, Chief Executive Officer of Comar, said, “We are excited to partner with Morgan Stanley Capital Partners and enter a new phase of growth. We are proud of the accomplishments of the entire Comar team and expect this new partnership to help us continue to deliver the highest quality products to our customers.”
Guggenheim Securities acted as financial advisor to MSCP, and Jones Day served as legal counsel.
Comar, headquartered in Voorhees, NJ, has eight strategic manufacturing and distribution locations and employs a host of rigid plastic packaging technologies including injection molding, injection blow molding, injection stretch blow molding, and extrusion blow molding which are complemented by a full suite of value added service offerings.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over two decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America, as well as Europe and other regions and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 600 investment professionals around the world and $469 billion in assets under management or supervision as of March 31, 2018. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.