PE Deals

Pfingsten sells packaging firm Oliver Inc

Tenex Capital is the buyer.

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  • Lincoln International was financial advisor to Oliver while Paul Hastings was legal counsel
  • Pfingsten first invested in Oliver in 2016
  • Headquartered in Chicago, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion

Pfingsten has sold Hauppauge, New York-based Oliver Inc, a provider of specialty packaging solutions. The buyer is Tenex Capital Management. No financial terms were disclosed.

“Oliver became a market leader with significant investments in equipment, systems, management and add-on acquisitions,” said Scott Finegan, Pfingsten Managing Director, in a statement. “Since our initial investment in 2016, the business completed four strategic acquisitions and grew revenue six-fold.”

The transaction closed on July 6, 2022. Lincoln International acted as financial advisor to Oliver and Paul Hastings served as legal counsel.

Pfingsten is an operationally focused private equity firm formed in 1989. Headquartered in Chicago, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 156 manufacturing, distribution and business services companies.