PE-backed Pretium Packaging buys Intertech Corp

Pretium Packaging, which is backed by Genstar Capital, has acquired Intertech Corp. No financial terms were disclosed. Mesirow Financial provided financial advice to Intertech Corp. on the transaction. Based in Greensboro, North Carolina, Intertech is a maker of stock, custom and plastic bottles.

PRESS RELEASE

CHESTERFIELD, MO, February 23, 2015 – Pretium Packaging, a leading supplier of custom blow molded packaging solutions, announced today that it has acquired Intertech Corporation, a privately owned manufacturer of high-quality stock, custom, and proprietary plastic bottles.

Founded in 1974 by Jack Worsham, the company provides blow molded HDPE products and containers to the specialty chemical, personal healthcare, institutional, household products, automotive, and agricultural products markets from its manufacturing facility in Greensboro, NC. In addition to products manufactured on state-of-the-art equipment, Intertech offers customers a full suite of services, including design, manufacturing, in-line decorating, warehousing, and shipping.

George A. Abd, President and CEO of Pretium, said, “The acquisition of Intertech gives Pretium our first location in North Carolina and a great team that will enable us to leverage that location to better serve customers in the region. We now have a stronger platform to achieve meaningful growth with existing customer relationships and new customer opportunities. The acquisition of Intertech is Pretium’s second strategic acquisition in the past 3 months and is the next step in our strategy to build Pretium both organically and through selective acquisitions that expand our markets, technologies and geographic reach to allow us to better serve our customers. We remain pleased with the strong pipeline of potential transactions of independent manufacturers from which we continue to identify new strategic growth opportunities.”

David Golde, a Principal at Genstar Capital (which acquired Pretium last year), commented, “Intertech represents a highly strategic acquisition for Pretium, which we are excited to be supporting. As part of our growth strategy with Pretium, we continue to have a strong interest in additional acquisitions that help Pretium better serve its existing customers and gain new customers.”

Mesirow Financial served as financial advisor to Intertech Corporation.

About Pretium
Based in Chesterfield, MO, Pretium (www.pretiumpkg.com) manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling to manufacture. Pretium utilizes its national manufacturing footprint, design and engineering capabilities, and full range of process capabilities to provide customized solutions to its customers in the food & specialty beverage, household and industrial products, pharmaceutical, agricultural chemical and personal care markets. Pretium distinguishes itself through service, flexibility, speed-to-market and engineering capabilities. The Company sells its products to a diversified customer base of over 700 companies ranging from Fortune 500 companies to smaller privately-owned businesses.

About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $3 billion and targets investments focused on selected sectors within the industrial technology, financial services, software, and healthcare industries.