Pregis to Be Acquired by Private Equity Firm Warburg Pincus
Warburg Pincus, a leading global private equity firm focused on growth investing, has agreed to acquire Pregis LLC, a leading protective packaging materials and automated systems manufacturer, from Olympus Partners, headquartered in Stamford, Connecticut.
Pregis’ current management team, led by Kevin Baudhuin, president and chief executive officer, will continue under Warburg Pincus’ ownership.
Under Olympus’ ownership since May 2014, Pregis has 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.
The company has also made significant capital investments during that period including multiple new blown-film extrusion lines at its Pregis Films facility. The additional capability enhances vertical integration and addresses increased demand for higher quality flexible packaging, e-commerce protective material and surface protection films. Most recently, Pregis established a European operating unit to provide robust solutions on an even wider geographic platform.