Celeste Contract Packaging, located in Easton, Maryland, is an FDA registered pharmaceutical and medical device packager with a specialty in single use applications. Celeste Contract Packaging was part of Celeste Industries Corporation, which included the packaging business as well as a transportation chemical business. Brockway Moran & Partners engaged Grace Matthews to advise them on a strategy to maximize value for the contract packaging division.
Grace Matthews researched and found private equity owned PrePak Holdings. PrePak was eager to make add on acquisitions to complete its offerings in the specialty pharmaceutical packaging space. Grace Matthews structured and negotiated a sale at a preemptive price in a very short time frame.