The company has been acquired by Phoenix Equity Partners, which has insisted that it will invest in the business to extend its product range and grow the company over the next few years.
Jaycare focuses on supplying rigid plastic packaging and devices - including plastic bottles, pumps and closures - to the pharmaceutical and consumer healthcare markets.
The company was formed in the late 1970s from Johnson and Jorgensen Plastics and was an independent business until it was bought by Waddington in 1990. A management team backed by venture capitalist 3i acquired the company in 2000 for £29 million from Communisis, which was itself formed by the merger of the print businesses of Rexam and Waddington.
The Phoenix acquisition will see the Jaycare management team, currently led by Lyndon Wild, Nick Nolan and David Young, bolstered by the addition of Pat Barrett as chairman and Nigel Tipple as chief executive.