Clearlake-Backed Pretium Packaging Appoints James Rooney as CEO

News provided by

Aug 26, 2024, 07:00 ET

Appointment signals Pretium's commitment to providing innovative solutions to its customers as the Company ushers in a new era of long-term growth

ST. LOUIS and SANTA MONICA, Calif. , Aug. 26, 2024 /PRNewswire/ -- Pretium Packaging, L.L.C. ("Pretium" or the "Company"), a full-service designer and producer of sustainable packaging solutions for specialized applications, today announced that James Rooney will join Pretium as Chief Executive Officer (CEO) and a member of the Board of Directors. Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") acquired Pretium in January 2020.

Mr. Rooney's industry knowledge and experience complement Pretium's mission to drive strategic growth and operational excellence. He brings more than 30 years of leadership experience in the packaging industry, with a proven track record of strategic growth, manufacturing excellence, and customer-centric focus. Prior to joining Pretium, he served as the CEO of DazPak Flexible Packaging, where he led the integration of six businesses, streamlined operations, and built a high performing commercial organization. Prior to this role, Mr. Rooney led ALPLA Corporation's North American business and held various leadership roles at Owens Illinois and Amcor.

"I am honored by the opportunity to build upon the foundation that the Pretium team has established over the years," said Mr. Rooney. "With its extensive range of high-quality packaging solutions and focus on sustainability and innovation, Pretium has scaled to become the supplier of choice for customers around the world. Pretium is also uniquely positioned to capitalize on continued sector tailwinds, including emerging trends in health and wellness, food and beverage, and home and personal care. I am excited to join the Company and partner with Pretium's leadership team and employees, valued customers, and the Clearlake team to drive future success in the business."

"We are thrilled to welcome James to the Pretium executive team. He brings decades of packaging experience as well as a vision that complements Pretium's service- and sustainability-oriented strategy, and his operating experience aligns well with Clearlake's O.P.S.^® approach," said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Partner and Managing Director, at Clearlake. "Pretium is positioned to accelerate its growth and enhance its foundation of operational excellence under James, and we look forward to a successful partnership."

About Pretium
Pretium specializes in innovation and automation of multiple rigid packaging technologies in a diverse set of end markets including food and specialty beverage, healthcare, health and wellness, personal care and beauty, and household and commercial products. The company's multi-use packaging solutions are based primarily on PET, HDPE, and polypropylene resin, with a wide array of options including up to 100% post-consumer recycled material content, making it a preferred choice for customers focused on sustainability. Pretium differentiates itself through responsiveness, breadth of product offerings, short changeover times, and a national footprint of 25 automated manufacturing facilities. More information is available at www.pretiumpkg.com.

About Clearlake
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.^® The firm's core target sectors are industrials, technology, and consumer. Clearlake currently has over $80 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore. More information is available at www.clearlake.com and on Twitter @Clearlake.