Pretium Packaging sold to private equity firm Clearlake Capital
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Headquartered in Chesterfield, Missouri, Pretium blow molds rigid plastic bottles and containers for a wide range of sectors.
Pretium Packaging, a blow molder of customized, rigid plastic packaging headquartered in Chesterfield, Mo., has been bought by private equity firm Clearlake Capital Group L.P. for an undisclosed amount.
Pretium was sold by private equity firm Genstar Capital, of San Francisco.
Pretium supplies rigid plastic bottles and containers, serving a diverse base of customers in the food and specialty beverage, healthcare, sports nutrition, personal care, beauty, and household products end markets. The company primarily molds from PET, HPDE, and polypropylene resin, and also uses up to 100 per cent post-consumer recycled material content.
Under Genstar’s ownership since 2014, Pretium grew to more than US$450 million in revenue and currently operates 19 production facilities. Additionally, Pretium completed seven acquisitions since 2014, including Tri-Delta Plastics, Custom Blow Molding, Olcott Plastics, Patrick Products Inc., and Toronto-based medical parts molder Starplex Scientific Inc.
Paul Kayser, Pretium’s CEO, and the existing management team will continue to lead the company.
“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,” Clearlake’s managing director Arta Tabaee said in a statement.