Olympus Partners has agreed to acquire Pregis Corporation North America, a protective packaging materials and systems manufacturer and a portfolio company of AEA Investors. AEA first invested in Pregis in 2005.
“Olympus Partners looks for enterprises that have established a leading market position and have a strong management team. We believe that such companies will enjoy greater long term value creation and generate superior investment returns. Pregis meets those criteria and we are pleased to add the company to our diverse investment portfolio,” said Manu Bettegowda, partner. “Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships.
Pregis is a provider of protective packaging materials and systems. The company’s products are used in a variety of consumer and industrial market segments including food, beverage, healthcare, medical devices, agricultural, e-commerce, retail, automotive, furniture, electronics, construction and military & aerospace. Pregis’ products are sold through industrial and packaging distributors, fabricators and specialty suppliers. In North America, Pregis operates 14 facilities and is headquartered in Chicago (www.pregis.com).
Pregis’ current management team, led by Kevin Baudhuin, president and chief executive officer, will continue under Olympus ownership. The company has been owned by private equity firm AEA Investors since 2005. Under AEA ownership the company acquired Surface Guard and IntelliPack and developed new technology including a variety of protective packaging systems and new material launches.
“Over the past decade, Pregis has established a strong track record of growing its business through product development, market diversification and acquisition. Olympus Partners will continue supporting that growth by investing significant capital in the business. This will help accelerate our strategic and innovation vision,” said Mr. Baudhuin.
Olympus Partners, with $5 billion of capital under management, provides equity capital for middle market management buyouts and for companies needing capital for expansion. Sectors of interest include consumer products, healthcare, financial services and business services. The firm was founded in 1988 and is based in Stamford, CT (www.olympuspartners.com).
AEA manages approximately $6 billion of invested and committed capital in funds dedicated to three purposes: buyouts of middle market companies operating in the industrial, specialty chemical, consumer products and consumer services sectors; buyouts of smaller middle market companies in these same sectors; and mezzanine and senior debt investments. AEA was founded in 1968 and is based in New York with offices in London, Munich, Hong Kong, and Shanghai (www.aeainvestors.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-23-14
