Tekni-Plex, Inc. announced today that it has sold its Swan Hose business to Jacobson Partners, a private equity firm located in New York City. Terms of the transaction were not disclosed.
With a history tracing back over 80 years, Swan is a leading developer, manufacturer,
and marketer of high-quality consumer and industrial hoses serving a blue-chip
customer base that includes leading home improvement and mass merchant retailers.
Swan’s product portfolio includes a comprehensive offering of high-quality garden,
specialty and industrial hoses marketed under the Swan®, WaterWorks™, Element® and
Aero-Tube® brand names, as well as on a private label basis.
Paul Young, President and CEO of Tekni-Plex, commented, “We have been very
pleased with the recent performance of Swan, and have effected this sale to allow us to
focus on our core healthcare, food packaging and specialty segments. We intend to use
the net proceeds of the sale to reduce our leverage by redeeming outstanding bonds.”
About Tekni-Plex, Inc.
Tekni-Plex, Inc. is a global manufacturer of a diverse range of technically-sophisticated
and value-added packaging products primarily serving the healthcare, food and
consumer industries. For more information on the capabilities of Tekni-Plex, visit
www.tekni-plex.com or call the Company at (484) 690-1520.