Private equity firm Olympus Partners, Stamford, Conn., has agreed to acquire Pregis Corporation North America, a flooring underlayment, protective packaging materials and systems manufacturer, for an undisclosed amount.
“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,” said Manu Bettegowda, partner. “Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships.
Pregis’ current management team, led by Kevin Baudhuin, president and chief executive officer, will continue under Olympus ownership. The company has been owned by private equity firm AEA Investors LLC since 2005. Under its ownership, investments were made via acquisitions (Surface Guard and IntelliPack), as well as in technology development, including 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,” said Baudhuin.
In North America, Pregis operates 14 facilities producing a variety of protective packaging products and value added system solutions. Pregis partners with industrial and packaging distributors, fabricators and specialty suppliers to deliver customer-driven solutions to a wide variety of end use markets.