Pretium Packaging Sold to Clearlake Capital Group
Genstar Capital, a leading private equity firm focused on investments in targeted segments of the industrial technology, healthcare, financial services and software industries, has announced the sale of Pretium Packaging, a leading North American manufacturer of rigid plastic containers and closures, to Clearlake Capital Group L.P.
Pretium is a leading provider of custom, high performance rigid plastic bottles and containers, serving customers in the food and specialty beverage, healthcare, sports nutrition, personal care, beauty, and household products end markets. Pretium’s multi-use packaging solutions are based primarily on PET, HPDE and polypropylene resin, with a wide-array of options including up to 100% post-consumer recycled material content, making it a leading choice for customers focused on sustainability.
Under Genstar’s ownership since 2014, and driven by a newly recruited senior leadership team and revamped sales processes, Pretium has grown to over $450 million in revenue and 19 production facilities. Additionally, Pretium completed seven acquisitions that deepened customer relationships in existing markets and enabled expansion into new end markets, and today enjoys a reputation as the acquirer of choice among regional family-owned blow-molding companies.