Martin Tedham, who founded pharmaceutical packaging specialist TD Packaging in Swindon, has taken a majority share in Wasdell Packaging, based in Stonehouse, Gloucestershire as it embarks on a period of significant growth.
James Wasdell continues to hold a significant share of the company, which employs 125 people, and will now become commercial director. Tedham will be md.
Tedham and Wasdell are former colleagues as Tedham's first job in the packaging industry was at Wasdell Packaging when he worked for Wasdell's father.
"It feels like I have returned to my roots and I am overjoyed to be back at Wasdell's," said Tedham.
Wasdell Packaging produces blister packs in a variety of materials as well as carrying out powder filling, tablet counting and container filling, strip packing, liquid filling, secondary packaging, clinical trials and stability trials at its factory on the Upper Mills Estate in Stonehouse. It has 16 production lines from a variety of suppliers including Noack, Strocar and IMA.
Anticipating "substantial" new contracts, the company is currently building a second facility in Swindon, which is scheduled for completion in 2010.
The company says it will bring all of its current capabilities up-to-date in this state-of-the-art facility, which will include a cold storage unit.