Olympus Pushes the Envelope: To Warburg

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Jun 05, 2019, 08:30 ET

STAMFORD, Conn., June 5, 2019 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners is pleased to announce it has agreed to sell Pregis LLC ("Pregis") to Warburg Pincus. Pregis is a leading protective packaging materials and automated systems manufacturer whose products range from protective envelopes to foam-in-place packaging systems.

Under Olympus' ownership since May 2014, Pregis has made six acquisitions (Eagle Film Extruders, Easypack Ltd, Sharp Packaging Systems, 3M PolyMask, Rex Performance Products and FP International). The company has grown from 14 to 22 manufacturing facilities across North America and Europe. Pregis currently employs 2,250 team members.

Manu Bettegowda, partner at Olympus, commented, "We couldn't have asked for better partners in the team at Pregis, from management all the way through the organization. The team has done an exceptional job adapting to change and executing a multi-faceted growth plan. We look forward to seeing what the future holds for Pregis."

"Pregis has been extremely fortunate to have Olympus Partners as our financial sponsor, investment partner and trusted business advisor for the past five years. The Olympus team has infused tremendous capital into our organization to fuel our growth strategy. Their support has been critical in helping us achieve our strategic business goals." Kevin Baudhuin, president and chief executive officer.

Founded in 1988, Olympus Partners is a 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 business services, consumer products, healthcare services, financial services, industrial services, and manufacturing.

Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The Olympus team included Manu Bettegowda, David Haddad, Sam Greenberg, and Bryson Bono. Olympus was advised by Evercore, Barclays, and Harris Williams. In addition, Olympus was represented by Jim Faley, Karen Flanagan, Kevin Stocks and Jeremy Mandell from Kirkland & Ellis LLP.

SOURCE Olympus Partners