Supplier News

Private Equity Firm Acquires Pregis

Private equity firm Olympus Partners, Stamford, Conn., acquired Pregis Corp. North America, a protective packaging materials and systems manufacturer based in Deerfield, Ill., for an undisclosed amount. The transaction is expected to be completed by the end of May. Pregis' current management team, led by Kevin Baudhuin, president and CEO, will continue under Olympus ownership.

"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," says Manu Bettegowda, partner. "Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships.

Pregis has been owned by private equity firm AEA Investors LLC, New York, since 2005. Under its ownership, Pregis acquired Surface Guard, Aurora, Ill., IntelliPack, Tulsa, Okla., and Inter-Pac, Inc., Tupelo, Miss., and introduced a variety of protective packaging systems and 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," says Baudhuin.

Pregis operates 14 North American facilities producing a variety of protective packaging products and value-added system solutions.

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