Clearlake Capital acquires Pretium Packaging
Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) in partnership with management announced that it has acquired Pretium Packaging (“Pretium” or the “Company”) from Genstar Capital. Pretium is a leading full-service designer and manufacturer of rigid packaging solutions for specialized applications. Financial terms of the transaction were not disclosed.
Headquartered in Chesterfield, Missouri, Pretium is a leader in innovation and automation of multiple rigid packaging technologies in a diverse set of end markets including food and specialty beverage, healthcare, sports nutrition, personal care, beauty, and household products. The Company’s multi-use packaging solutions are based primarily on PET, HPDE, and polypropylene resin, with a wide-array of options including up to 100% post-consumer recycled material content. Paul Kayser, Pretium’s CEO, and the existing management team will continue to lead the Company.
“Pretium provides a winning combination of innovative and sustainable packaging solutions, national scale, and highly responsive local service in attractive end markets,” said José E. Feliciano, Co-Founder and Managing Partner of Clearlake. “We are thrilled to welcome Clearlake as Pretium continues driving organic growth and executes our platform consolidation strategy. With strategic resources, operational insights, and support from Clearlake, we look forward to continuing to deliver quality rigid packaging solutions to our valued customers,” said Mr Kayser.
“Pretium is on an impressive trajectory, having developed a flexible national footprint, a complete spectrum of design, engineering and automation solutions, and production capabilities across containers, caps, closures, and dispensers across substrates. We look forward to leveraging Clearlake’s O.P.S. framework to continue driving organic growth, implementing profitability enhancing initiatives, and supporting Paul and his team in completing strategic acquisitions in this highly fragmented market.”added Arta Tabaee, Managing Director at Clearlake.
Evercore acted as the exclusive financial advisor to Clearlake. Rothschild & Co. and Jefferies LLC served as financial advisors to the Company.
