Olympus Partners has sold Chicago-based aerosol product maker PLZ Aeroscience to Pritzker Group Private Capital. No financial terms were disclosed.
CHICAGO, July 31, 2015 – Pritzker Group Private Capital today announced it has acquired Chicago-based PLZ Aeroscience, North America’s largest specialty aerosol product manufacturer, from Olympus Partners.
Pritzker Group Private Capital is investing alongside the PLZ management team, which will remain a significant shareholder, continue to lead the company and serve on its board of directors.
As the North American leader in specialty aerosol product manufacturing, the PLZ family of companies specializes in the development, manufacturing, packaging and distribution of a comprehensive line of contract fill, branded and private-label products. Business units include Plaze, Sprayway, Claire, CPC, Camie-Campbell, K-G Spray-Pak, Assured Packaging and Maid Brands.
In all, PLZ has five manufacturing locations in North America boasting 455,000 square feet of manufacturing space and 700,000 square feet of warehousing and distribution space. Its 25 aerosol filling lines and nine liquid filling lines are capable of filling up to 450 million units annually, with high-speed lines able to fill 300 cans per minute. The company formulates, blends, fills and packages more than 2,500 branded and private-label products including industrial solvents, lubricants and degreasers, adhesives, sanitary supply disinfectants, insecticides, cleaners, polishes, air fresheners and personal-care products.
“The products made by PLZ Aeroscience require significant expertise in compliance, regulation and manufacturing, and no other specialty aerosol company in North America meets its customers’ needs better,” said Michael Nelson, Pritzker Group Private Capital investment partner. “Pritzker Group continues to expand our investments in the manufactured products sector with this clear market leader.”
“PLZ Aeroscience is the leading specialty aerosol manufacturer with an outstanding management team,” said Tony Pritzker, managing partner of Pritzker Group. “Combining our permanent, proprietary capital base with this management team will enable PLZ to have tremendous opportunities for growth.”
“We sought out Pritzker Group as our preferred partner because of their focus on investing in their companies and building businesses for the long-term,” said John Ferring, PLZ chairman. “The Pritzkers’ specialized approach to working alongside entrepreneur- and family-owned companies is a perfect fit for us. This new partnership will give us the stability and strength to grow over time.”
“This partnership enables us to continue delivering the quality products and service our customers demand,” said Ed Byczynski, PLZ chief executive officer. “Each PLZ Aeroscience company is a success story in itself, with deep history, strong name recognition and solid brand reputation across numerous industries.”
About PLZ Aeroscience
PLZ Aeroscience is the North American leader in specialty aerosol product manufacturing. The PLZ family of companies specializes in the development, manufacturing, packaging and distribution of a comprehensive line of contract fill, branded and private-label products. The company formulates, blends, fills and packages more than 2,500 branded and private-label products including industrial solvents, lubricants and degreasers, adhesives, sanitary supply disinfectants, insecticides, cleaners, polishes, air fresheners and personal care products. Since 1947, PLZ has filled billions of aerosol cans for thousands of customers. For more information, visit plzaeroscience.com.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and health care sectors. The firm’s permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit pritzkergroup.com.