Olympus Plaze Well With Others, Sells to Pritzker
STAMFORD, Conn., July 31, 2015 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners is pleased to announce the sale of PLZ Aeroscience to Pritzker Group Private Capital. PLZ is the largest producer of specialty aerosol products in North America. The Company formulates, blends fills and packages over 3,000 branded and private label aerosol-based products across a wide range of categories including cleaning, air care, adhesives and lubricants. Olympus acquired PLZ in 2011 and since that time the Company has completed three acquisitions while significantly expanding its direct retail business and entering the personal care market.
"Olympus has been an excellent partner in helping us grow the Company. In the first 18 months of their investment we completed three acquisitions that transformed the business – expanding operations beyond the U.S. and entering two large new sales channels," said CEO Ed Byczynski. "Olympus also helped us build out the infrastructure and organization to allow for sustainable growth and make PLZ a more effective acquisition platform."
Manu Bettegowda, a partner at Olympus, commented "Ed and his talented management team did a great job driving growth and adapting their business practices to run a significantly larger business, while not losing the focus on service and innovation that originally drew us to the Company. It has been a pleasure to be involved with this investment and I look forward to following the Company's continued success under the Pritzker's ownership."
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for management buyouts and for companies needing capital for expansion. Olympus' primary investment thesis is to back high quality management teams in their growth plans with strategic advice and capital. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services and business services. Olympus manages in excess of $5.5 billion primarily on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
The Olympus team included Manu Bettegowda, Jason Miller, Matt Boyd and Michael Boccia. PLZ Aeroscience was represented in the sale by Lazard Middle Market and RBC Capital Markets with legal representation from Kirkland & Ellis.
SOURCE Kirkland & Ellis LLP
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