Trive Capital has acquired Precise Packaging, a manufacturer of complex pressurized spray products. As part of the acquisition, Trive has partnered with the company’s current management team who will maintain a meaningful ownership position in the business.
“The Precise Packaging team has built an impressive organization, centered on a culture of excellence and close customer relationships,” said Conner Searcy, Managing Partner at Trive. “Trive’s experience in the sector allowed us to quickly recognize the company’s unique market position and future growth potential. We look forward to partnering with management in providing the strategic and financial support necessary to execute on Precise Packaging’s numerous opportunities.”
Precise Packaging (PPI) is a manufacturer of miniature aerosol and pump products. The company’s products include room sprays, fragrance oils, cosmetic mousses, deodorants, and other solutions used in personal care and household markets. The company offers turnkey services from initial laboratory formulation and material sourcing, through production, filling, quality check and delivery. Precise Packaging was founded in 1988 and is based in Fall River, MA (www.precisepackaging.com).
“We were looking for a partner that could provide more than just capital. Management was impressed with Trive’s ability to develop a vision that will allow the business to grow responsibly while maintaining our commitment to superior service. We believe this partnership will enable us to succeed in expanding our capabilities and footprint,” said Richard Armstrong, CEO of Precise Packaging.
Trive was introduced to Precise Packaging by Salem Partners (www.salempartners.com), a Los Angeles-based investment bank focused on middle-market mergers and acquisitions.
Trive Capital invests from $5 million to $40 million in US based middle market companies that have revenues from $30 million to $500 million. Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing/industrials; chemicals; distribution; business & professional services; and communications. The firm is based in Dallas (www.trivecapital.com).
“The acquisition of PPI represents Trive’s second platform investment since the formation of the firm six months ago in June 2012. We remain committed to pursuing attractive lower middle-market companies that can benefit from a strategic partner and exhibit compelling growth potential. We are very pleased that the PPI management team has selected Trive as its partner to further build the business,” said Chris Zugaro, Partner at Trive.
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13
