Federal Equipment Co. of Cleveland is part of the investor group acquiring a 110-acre pharmaceutical manufacturing and packaging campus in Alabama. The provider of industrial and process equipment joined Capital Recovery Group, of Enfield, Connecticut; Heritage Global Partners, of San Diego, California; and PPL Group LLC, Chicago, to buy the facility from a generics manufacturer in Huntsville, Alabama.
Their purchase will include a strategic redevelopment of the campus, which includes three buildings totaling approximately 800,000 square feet.
“We are excited to share these opportunities, including bringing to market late model tablet manufacturing and serialized packaging equipment, as well as offering top-quality liquids manufacturing and filling lines as a turnkey operation,” Federal Equipment’s Vice President Adam Covitt said in a statement.
The redeveloped campus will accommodate uses ranging from the existing pharmaceutical to alternate manufacturing to a high cube distribution warehouse. The site also has two pads for potential future expansion.
