Pretium Packaging, a supplier of blow molded packaging and a portfolio company of Genstar Capital, has acquired Custom Blow Molding. Genstar acquired Pretium Packaging from Castle Harlan in June 2014.
Custom Blow Molding (CBM) is a supplier of plastic containers and closures used in the sports nutrition market. CBM’s management team – led by President and CEO Bill McNeal and Executive Vice President Joe Abbott – will join Pretium and continue to lead the CBM business. CBM has facilities in Escondido, CA (headquarters); Carrollton, TX; and Aurora, IL (www.customblowmolding.com).
Pretium Packaging is one of the nation’s largest manufacturers of customized, rigid plastic bottles and containers. The company has capabilities in all major resin types and manufacturing processes and is primarily focused on customers with small-to-medium volume requirements. Pretium sells its products to a customer base of over 600 companies, ranging from Fortune 500 companies to smaller privately-owned businesses in the food & specialty beverage, private label, pharmaceutical, personal care and household & industrial sectors. Pretium is headquartered near St. Louis in Chesterfield, MO (www.pretiumpkg.com).
In February 2015, Pretium acquired Intertech, a manufacturer of stock, custom, and proprietary plastic bottles, based in Greensboro, NC (www.intertechcorp.com). In December 2014, Pretium acquired Tri-Delta Plastics, a manufacturer of rigid packaging products used in the food, healthcare, and household chemicals end markets, based in based in Hillsborough, NJ (www.trideltaplastics.com).
“Pretium continues its successful acquisition strategy with CBM being the third during Genstar’s ownership,” said David Golde, a Director at Genstar Capital. “CBM represents an industry-leading blow molder serving fast-growing end markets and led by highly talented executives we are excited to be partnering with. Genstar will continue to work closely with the Pretium management team to aggressively pursue and fund strategic acquisitions while supporting the strong organic growth plans of the company.”
Genstar, which had a final close in August 2015 of its seventh fund with $2 billion in commitments, invests from $50 million to $400 million in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDAs greater than $15 million. Genstar targets investments in the financial services, software, industrial technology, and healthcare industries. The firm was founded in 1988 and is based in San Francisco (www.gencap.com).
Mesirow Financial (www.mesirow.com) served as the financial advisor to CBM for this transaction.
© 2016 Private Equity Professional • 7-26-16
