Acquisition Broadens Pretium's Reach with Facility in North Carolina
Pretium Packaging, a leading supplier of custom blow molded packaging solutions, announced today that it has acquired Intertech Corporation, a privately owned manufacturer of high-quality stock, custom, and proprietary plastic bottles.
Founded in 1974 by Jack Worsham, the company provides blow molded HDPE products and containers to the specialty chemical, personal healthcare, institutional, household products, automotive, and agricultural products markets from its manufacturing facility in Greensboro, NC. In addition to products manufactured on state-of-the-art equipment, Intertech offers customers a full suite of services, including design, manufacturing, in-line decorating, warehousing, and shipping.
George A. Abd, President and CEO of Pretium, said, "The acquisition of Intertech gives Pretium our first location in North Carolina and a great team that will enable us to leverage that location to better serve customers in the region. We now have a stronger platform to achieve meaningful growth with existing customer relationships and new customer opportunities. The acquisition of Intertech is Pretium's second strategic acquisition in the past 3 months and is the next step in 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 remain pleased with the strong pipeline of potential transactions of independent manufacturers from which we continue to identify new strategic growth opportunities."
David Golde, a Principal at Genstar Capital (which acquired Pretium last year), commented, "Intertech represents a highly strategic acquisition for Pretium, which we are excited to be supporting. As part of our growth strategy with Pretium, we continue to have a strong interest in additional acquisitions that help Pretium better serve its existing customers and gain new customers."
Mesirow Financial served as financial advisor to Intertech Corporation.
