Grand Rapids, MI – Praxis Packaging Solutions (“Praxis” or the “Company”), a provider of primary and secondary contract packaging solutions for pharmaceutical, animal health, medical device, nutritional, and personal care sectors, is pleased to announce the acquisition of Advanced Concept Innovations, LLC (“ACI”).
For over 35 years, Praxis has provided high-quality packaging solutions to its customers, with a commitment to quality, innovation, and customer success. The strategic combination with ACI further enhances Praxis’ customer offering by broadening Praxis’ geographic footprint into the Southeastern United States, expanding its capabilities and market segments.
Located in Lakeland, Fl, ACI provides contract packaging of medical devices, over-the-counter (“OTC”), consumer, and health and beauty products, as well as domestic manufacturing of NIOSH surgical N95 respirators. The acquisition adds over 160,000 sq. ft. of manufacturing and warehouse facilities, bringing Praxis’ total footprint to nearly one million sq. ft, following a 125,000 sq. ft. expansion in Grand Rapids, MI earlier this year. Customers of both companies will benefit from a unified focus on operational excellence, process improvement, and enhanced offerings designed to meet the growing needs of the healthcare and consumer markets.
“We are pleased to partner with an organization that aligns with our commitment to quality and exceptional customer service,” said Matt Muller, President of ACI. “Praxis is an ideal partner to help us accelerate our growth while staying true to our mission.”
“We are excited to have ACI and its experienced leadership team join Praxis,” expressed John Lowry, Praxis’ Chairman and CEO. “We share a common culture of customer-centric, quality-focused packaging services. Together, we believe we will be even better positioned to serve our customers, providing the high level of service and quality that customers have come to expect from both companies.”
Edgemont Capital Partners, L.P. served as financial advisor and Morgan, Lewis & Bockius LLP served as legal counsel to ACI in connection with the transaction. Paul Hastings LLP served as legal counsel to Praxis.
<strong>About Praxis</strong>
Founded in 1989, Praxis Packaging Solutions, backed by BPOC, is a contract packaging organization (“CPO”) that specializes in prescription (“Rx”) pharmaceutical and OTC, medical device, animal health and health and beauty industries. With facilities in Grand Rapids, MI and Randolph, NJ, Praxis provides primary solid dose bottling and blistering, liquid filling and secondary packaging services including kitting, cartoning, high-speed labeling, and DSCSA serialization and aggregation. For more information, please visit www.praxispackaging.com.
<strong>About ACI</strong>
Founded in 2004 in Lakeland, FL, Advanced Concept Innovations provides contract packaging of medical devices, OTC, consumer, and health and beauty products to the consumer health and medical industries, and is also one of the largest domestic manufacturers of surgical-grade N95 respirators. For more information, please visit www.acipak.com.
<strong>About BPOC</strong>
Founded in 1996, BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation’s most experienced investors in the industry having raised seven funds with total capital commitments of approximately $2.5 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations and became a majority owner in Praxis in 2022. For more information, please visit www.bpoc.com.
