Private equity firm Genstar Capital has completed the acquisition of US-based Pretium Packaging from Castle Harlan.
Pretium manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling to manufacture.
Pretium uses its national manufacturing footprint, design and engineering capabilities to provide customised solutions to its customers in the food and specialty beverage, private label, pharmaceutical, personal care and household and industrial sectors.
The company sells its products to a diversified customer base ranging from Fortune 500 companies to smaller privately-owned businesses.
David Golde, who leads Genstar's packaging-related investing efforts, says: "Our investment in Pretium is the result of a multi-year effort to find a packaging company that fits Genstar's investment criteria, and Pretium builds upon the firm's investing efforts in the industrial technology vertical. We look forward to providing the Pretium leadership team with capital and resources to accelerate the company's growth, both organically and via strategic acquisitions."
