The Deerfield, Ill.-based protective packaging and systems maker is being sold by it current owner, private equity firm Olympus Partners, for an undisclosed amount.
June 6, 2019 by Canadian Plastics
Protective packaging and systems maker Pregis LLC is being sold by private equity firm Olympus Partners and acquired by Warburg Pincus, another investment firm.
The terms of the deal have not been disclosed.
Pregis’ current management team, led by Kevin Baudhuin, president and CEO, will continue under Warburg’s ownership.
“We are pleased to partner with Warburg Pincus to continue our strong growth that has been attained through customer-focused innovation, market development and investments. Backed by their extensive network of knowledgeable resources and global perspectives, we are confident that Warburg Pincus will further accelerate our future growth,” Baudhuin said in a statement. “We also want to sincerely thank Olympus for their partnership and support, which have been key to our success over the past five years.”
Pregis is headquartered in Deerfield, Ill.
Olympus, which is headquartered in Stamford, Conn., bought Pregis in 2014, and under its ownership Pregis made six acquisitions (Eagle Film Extruders, Easypack Ltd, Sharp Packaging Systems, 3M PolyMask, Rex Performance Products, and FP International). The company has grown from 14 to 22 manufacturing facilities across North America and Europe. Pregis currently employees 2,250 team members.
Warbus is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.