Omninet Capital has sold its portfolio company PWP Industries to Pactiv Corporation for USD200m.
PWP is a leading national supplier of APET (amorphous polyethylene terephthalate) products for the food packaging industry. The company was co-founded in 1998 by Benjamin Nazarian, Managing Partner of Omninet Capital, and Neil Kadisha, also a Managing Partner of Omninet Capital and a former Qualcomm Director.
Over the past 12 years, PWP achieved impressive growth and established a leadership position in its market segment. As a leader in environmental stewardship, PWP is the first food packaging thermoformer in North America to build an in-house Post-Consumer Recycling Center. PWP currently operates four state-of-the-art facilities in California, Texas and West Virginia.
"The USD200 million purchase price paid by Pactiv is a testament to PWP’s leading industry position, blue chip customer base and groundbreaking recycling operation,” said Nazarian. “We have extensive experience at Omninet developing middle-market companies, and we are proud of what we accomplished with PWP. Together with the management team, we developed a growth strategy for PWP’s business that ultimately provided excellent returns. It was a pleasure to work with PWP’s management."
