Tjoapack has immediate plans to invest in expanding its automated packaging capabilities, including for injectable products, allowing the company to cater to market demand for prefilled syringes and vial packaging
Tjoapack Netherlands, a global contract packaging organisation (CPO) for the pharmaceutical industry, has announced a majority investment from Ampersand Capital Partners, a private equity firm that specialises in partnering with entrepreneur-led healthcare companies.
Ampersand’s investment will be used to expand Tjoapack’s capabilities to meet growing industry demand for high quality pharmaceutical packaging services across different dosage forms.
In conjunction with the deal, Dexter Tjoa, Tjoapack’s Director of Corporate Strategy has been appointed as CEO. Eric Tjoa, the Company’s founder and previous CEO, will retain a seat on the Board of Directors.
Dexter Tjoa said, “At Tjoapack, we are committed to shaping the future of the pharmaceutical supply chain and meeting the ever-changing demands of the industry. With that comes ensuring we have the capacity and capabilities to provide a comprehensive set of services to our global customer base.”
Tjoa continued, “We made the decision last year to seek investment from a strong financial partner with experience in our industry to help us achieve our long-term strategic goals, and we found Ampersand to be an excellent fit. It is a pleasure to welcome Ampersand as a partner to Tjoapack.”
David Parker, General Partner at Ampersand Capital Partners added: “During the past 30 years, the Tjoa family has built an efficient, well-run business recognised by global pharmaceutical companies for its high quality and innovation."
"The company’s commitment to steady growth as well as assuring the safe, secure supply of medicines for patients aligns perfectly with Ampersand’s values. We look forward to supporting Tjoapack’s management team to take the business to the next level.”