Clearlake’s equity-backed company Mold-Rite Packaging names healthcare industry veteran Jim Fitzgerald as CEO
The appointment signals the next phase of growth and emphasis on the health and wellness segments for MRP
SANTA MONICA, California., and PLATTSBURGH, NY, February 3, 2022 /PRNewswire/ — Mold-Rite Packaging (“MRP”, “Mold-Rite” or the “Company”), a provider of value-added packaging components such as end markets focused on health and wellness segments, today announced that Jim Fitzgerald will join MRP as CEO and member of the Board of Directors. MRP is majority owned by a subsidiary of Clearlake Capital Group, LP (together with its subsidiaries “clear lake“), who invested in the company in October 2021. Outgoing CEO after serving as President and CEO for 11 years Brian Bauerbach will retire from his full-time duties but will continue to be a partner of MRP and clear lake as a member of the board of directors.
“We are very pleased to welcome Jim to the MRP leadership team. Jim brings decades of experience in healthcare manufacturing platforms, most recently at medical device and component manufacturer Flexan, where he has driven sustained organic sales and profit growth. His experience aligns well with MRP’s value proposition of providing our customers with sustainable packaging solutions in our core end markets, including specialty food, home and personal care, along with a deepening focus on the health and wellness segments,” said José E. Feliciano, Co-Founder and Managing Partner , and Arta Tabee, Managing Director, from clear lake. “In favor of clear lake and the company, we would like to thank Brian for his leadership and dedication to MRP. During his 11 years at the helm of the company, he and his team have grown the company into a provider with products used daily by millions of consumers around the world. We know Brian shares our enthusiasm for MRP and we look forward to continuing to benefit from his experience and expertise on the Board.”
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Mr. Fitzgerald has over 30 years of experience leading manufacturing companies with a focus on the health and wellness markets. Before joining MRP, he was President and CEO of Flexan, as well as Chief Operating Officer of the Institute for Transfusion Medicine and Executive Vice President of Vesta (now a subsidiary of Lubrizol). Mr. Fitzgerald’s knowledge of both the manufacturing and health and wellness industries, as well as his focus on driving growth and operational excellence in each of his previous roles, is well aligned with MRP’s strategy.
“I look forward to building on the foundation that Brian and his team have laid at MRP and working alongside him clear lake on the next stage of the company and my professional journey. It is rare that such a compelling opportunity arises in a company like MRP and I look forward to joining the company and contributing to its next phase of growth,” said Mr. Fitzgerald. “MRP’s range of packaging solutions, combined with its core focus on sustainability, offers its customers offerings in health, wellness and other industries. I look forward to working with the staff of MRP, valued customers and the clear lake team to capitalize on emerging growth trends in the packaging component industry.”
“Jim reflects MRP’s core values of a focus on customer satisfaction and operational excellence, and I believe he is the right successor to lead the company’s next phase of growth,” added Mr. Bauerbach. “I am honored to have been a part of MRP’s success over the past decade and to know that the company is well positioned to accelerate its growth under Jim and clear lake. I look forward to working with Jim to ensure a smooth transition for all of our stakeholders and continue to contribute to the success of MRP as a member of the Board of Directors.”
“This leadership transition, supported by our OPS® framework and resources, will allow the company to execute on its growth initiatives both organically and through the completion of strategic acquisitions in this fragmented sector,” he added Dilschat Erkin, Vice President at clear lake.
About Mold-Rite Packaging (MRP)
MRP provides rigid plastic packaging components used by millions of consumers and serves a variety of end markets with a focus on the health and wellness industries. The company has a library of over 900 tools used to support a product offering of over 10,000 SKUs and the ability to create a much higher number of variations. With a product line that includes child resistant closures, dispensing closures, continuous thread closures and jars, MRP specializes in flexible and efficient operations for small to medium sized customers with short term production needs. MRP serves its customers through three manufacturing facilities in North America, and is headquartered in Plattsburgh, New York. Visit www.mrpcap.com for more information.
About clear lake
Founded in 2006, Clearlake Capital Group, LP is an investment firm operating integrated businesses in the areas of private equity, credit and other related strategies. With a sector-centric approach, the firm seeks partnerships with world-class management teams, providing dynamic companies with patient, long-term capital to capitalize on clear lakes Operational Improvement Framework, OPS® The Company’s key target sectors are Industrial, Consumer and Technology. clear lake is currently over 60 billion dollars of assets under management and its chief investment officers have led or co-led over 300 investments. The company is based in Santa Monica, CA, with attached offices in Dallas, TX and London, United Kingdom. For more information, visit www.clearlake.com and follow us on Twitter @ClearlakeCap.
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SOURCE Mold-Rite Packaging; Clearlake Capital Group