Resource Label Group LLC
is adding to its coast-to-coast presence with the acquisition of MedLit Solutions, a pharmaceutical packaging and printing company.
MedLit provides packaging, labeling, printing, design and fulfillment services for both branded and generic pharmaceutical companies, biotech application developers, healthcare service providers and higher education institutions, according to Core Industrial Partners, which sold MedLit
Medlit has two facilities in Winston, N.J., and Gardner, N.C.,
In August that MedLit Solutions broke ground for a 40,000-square-foot expansion.
"The new addition to our manufacturing facility significantly increases our production capacity and improves the overall flow of our production processes. The expansion was fueled by the continued growth we have witnessed in recent years," the company said at the time.
Private equity firm Core acquired TCG Legacy in October 2021 and combined that company with MedLit Graphics in 2021 to form what the company said was "a full-service pharmaceutical packaging platform."
"Core has been great to work with. They had a vision for MedLit Solutions and gave us the support, advice and resources to achieve our goals ahead of schedule. We look forward to continuing our success as part of the Resource Label Group family, and are very excited about the opportunity they now provide us to expand and enhance our value proposition in the marketplace," MedLit CEO Kevin Grogan said in a statement.
Resource Label Group describes itself as "a large network of businesses" that includes 29 companies and 1,900 employees serving 10,200 customers.
This is the 25th acquisition for Resource Label Group, which is based in Franklin, Tenn.
"MedLit has an outstanding team of packaging experts focused on providing best-in-class solutions for their customers. Their industry expertise significantly strengthens our offering and position in the growing pharmaceutical segment," Resource Label CEO Mike Apperson said in a statement.
Resource Label, owned by Ares Management Corp., also recently acquired Chicago-based Deco Flexible Packaging
, which provides label and packaging services.
Deco makes pressure sensitive and flexible packaging. The company specializes in "custom, pressure-sensitive products, narrow web flexible packaging, promotional items, and tags for a variety of industries," Resource Label said.