The Proof Is in the Packaging for Graham Partners
June 21st, 2018
Graham Partners, a private investment firm targeting industrial technology and advanced manufacturing companies, is pleased to announce the successful exit of Comar Holding Company, LLC (“Comar”). Comar is a specialty rigid plastic solutions provider with a reputation for developing innovative industry-compliant packaging solutions for the medical, pharmaceutical, consumer healthcare, personal and home care, and food and beverage end markets. Comar serves as a complete resource for custom design and production of packaging solutions from prototype to finished product for a variety of blue-chip customers.
Graham Partners’ family owner-operator heritage within the packaging industry gave Comar’s incumbent CEO, a third-generation family member, confidence that Graham was the right partner. Graham leveraged its extensive knowledge and resources in the industry to execute on its investment thesis to build a leading, mid-sized, specialty packaging and dispensing provider, serving high touch customers and markets. Key achievements include:
- More than doubled LTM EBITDA during Graham’s ownership
- Successful execution of buy and build strategy, merging two platform companies and completing four add-on acquisitions, three of which were family / entrepreneurially-owned at acquisition
- Opened a state-of-the-art Innovation Design Center, IDWorks®, enhancing the company’s new development capabilities
- Enhanced procurement and increased operational efficiency resulting in significant cost savings of $3MM+
- Achieved 125% topline growth through new product introductions, such as a Class I medical device, and other growth strategies
- Actively engaged in reducing energy consumption, conducting four energy assessments resulting in over $650k of annual savings
- Established a wellness program focusing on employee health and safety and preventative care leading to over $500k of total savings
Graham’s seasoned industry-related expertise, as well as the firm’s longstanding network of relationships within the packaging industry, aided in the successful outcome of this investment. Mike Ruggieri, CEO of Comar, states, “We greatly value the industry knowledge and operational support that Graham provided during their ownership, and we are excited for what the future holds for Comar.” Adam Piatkowski, Managing Principal at Graham Partners, adds, “Comar is an exceptional company that has become not only bigger, but also a stronger, more diversified business under our ownership. The company’s management team is truly dedicated to continuous improvement, offering the highest quality products and providing its customers with unique, high touch service. We are confident they will continue to innovate and drive growth and profitability under new ownership and wish them the best.”
Comar, headquartered in Voorhees, New Jersey, is a specialty rigid plastic solutions provider with a reputation for developing creative industry-compliant packaging solutions. Comar serves a variety of end markets for medical, pharmaceutical, consumer healthcare, personal and home care, food and beverage, and related niche market segments where quality, service, and creativity matter. With high-quality engineering and technical capabilities, the platform serves as a complete resource for custom design and production of packaging solutions from prototype to finished product.