Pretium Packaging Welcomes Newest Member To Family: Tri-Delta Plastics Acquisition
Pretium Packaging Announces Acquisition of Tri-Delta Plastics
Acquisition Expands Pretium into New Markets and Adjacent Product Categories
Search Pretium Packaging’s newest product line (former Tri-Delta Plastics) today: http://trideltaplastics.com/http://
CHESTERFIELD, MO, December 10, 2014 – Pretium Packaging, a leading supplier of custom blow molded packaging solutions, announced today that it has acquired Tri-Delta Plastics.
Based in Hillsborough, NJ, Tri-Delta is a manufacturer of a complete line of proprietary rigid packaging products to the food, healthcare, and household chemicals end markets. The company has invested heavily in its in-house technology and production infrastructure and today is a trusted supplier for containers, bottles, and closures, primarily within the spice and seasonings end market, a market category currently not served by Pretium. In addition to its spice market leadership position, Tri-Delta’s track record includes successful expansion of its product portfolio into new end markets, including healthcare and household chemicals.
Thomas J. Dolan, Owner and President of Tri-Delta, said, “Our commitment to proprietary product development, superior customer service and responsiveness, and robust manufacturing processes forged our solid reputation within the packaging industry over the past quarter century. We are proud of the strong business we have built and the great team that leads it. Very early in our sale process it became clear to me that Pretium Packaging would be the best home for our company as both organizations share a commitment to serving our customers in every way possible. Importantly from my perspective, Pretium completed its due diligence expeditiously and understood how to work with a family-run business in terms of what to ask and how to complete the process.”
George A. Abd, President and CEO of Pretium, said, “During its 25 year history, Tri-Delta has differentiated itself through its comprehensive approach to design, engineering, manufacturing, and best-in-class customer service. The company’s business philosophy, products and work force are highly complementary to Pretium and by entering the spice category and expanding our closures business, Pretium can offer a broader suite of products to our existing customers, as well as strategically position ourselves with new customers. This transaction is in-line with 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 are very pleased with the strong pipeline of potential transactions of independent manufacturers from which we continue to identify new strategic growth opportunities.”
David Golde, who leads Genstar Capital’s packaging investing efforts, commented, “We are excited to be supporting Pretium in its first acquisition under Genstar’s ownership. Funding growth initiatives is a key aspect of Genstar’s investment philosophy, and we will continue to work closely with Pretium management to aggressively pursue future growth opportunities, both organic and through strategic acquisitions.”
Upon completion of the transaction, Mr. Dolan plans to retire following more than two decades of building the company and will continue as an advisor during its transition to Pretium. Tri-Delta’s management team and employees will continue with Pretium. P&M Corporate Finance (PMCF) served as financial advisor to Tri-Delta and Mr. Dolan.
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 600 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.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC