July 27, 2016 Updated 7/27/2016
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Pretium Packaging LLC of Chesterfield, Mo., has added an operation with locations in Escondido, Calif., Carrollton, Texas, and Aurora, Ill.
Genstar Capital LCC owns Pretium, a rigid plastic container and closure manufacturer.
Mesirow Financial Inc. of Chicago advised Tri-Pack Enterprises Inc., which does business as Custom Blow Molding, on its recent sale to Pretium. No terms were disclosed.
Pretium plans to retain the CBM brand, and CBM’s Bill McNeal and Joe Abbott will join the Pretium leadership team.
Escondido-based CBM is a major rigid packaging supplier for the sports nutrition and supplement industries in North America.
Previously with private equity backing, Pretium had acquired Tri-Delta Plastics of Hillsborough, N.J., in December 2014 and Intertech Corp. of Greensboro, N.C., in February 2015 and merged with Novapak Corp. of Eatontown, N.J, in January 2010.
Paul Kayser, Pretium president and CEO, said in a statement that the latest acquisition was a natural fit for both Pretium and CBM and that Pretium continues to seek additional blow molding resources and capabilities across the U.S. and Canada. Kayser joined Pretium as president and CEO on Feb. 15.
San Francisco-based Genstar completed its acquisition of Pretium from private equity investors Castle Harlan Inc. of New York and Nicolet Capital Partners LLC of Chicago in June 2014.
With an estimated $ 285 million in sales, Pretium ranked 15th in the 2015 Plastics News list of North American blow molders and was operating in 14 facilities.
