Olympus Agrees "The Plaze the Thing"

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Sep 01, 2011, 06:57 ET

STAMFORD, Conn., Sept. 1, 2011 /PRNewswire/ -- Stamford, CT-based Olympus Partners is pleased to announce that it has recapitalized PLZ Aeroscience Corporation ("PLZ") along with AEA Investors ("AEA") and management.

PLZ is the leading manufacturer and marketer of specialty aerosol products in the U.S. PLZ formulates blends, fills and packages more than 1,100 branded and private label consumable, staple products such as cleaning agents, disinfectants, air fresheners, polishes, adhesives, lubricants, insecticides and other industrial aerosol products. Headquartered in St. Clair, Missouri, PLZ has built a reputation for research and development expertise, superior customer inventory management and unmatched engineering excellence that allows PLZ to compete in both the short and high-run segments.

Manu Bettegowda of Olympus Partners commented, "We are excited to partner with John Ferring and Ed Byczynski, PLZ's Chairman and CEO respectively, AEA and the entire management team to leverage PLZ as a platform for growth."

Founded in 1988, Olympus Partners is a Stamford, Conn.-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including healthcare services, financial services, consumer products and business services.

Olympus manages in excess of $3 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The investment in PLZ is Olympus' sixth investment out of its $1.5 billion fifth fund.

The Olympus team included Manu Bettegowda, Jason Miller, Pete Tedesco and Matt Boyd. Olympus was represented by Jim Faley at Winston & Strawn.

Mike McFadden and Sean Daugherty of Lazard Middle Market advised AEA on the transaction.

SOURCE Olympus Partners