Mesirow Advises Custom Blow Molding On Its Sale To Pretium Packaging
CHICAGO, July 25, 2016 – Mesirow Financial acted as the exclusive financial advisor to Tri-Pack Enterprises, Inc. d/b/a Custom Blow Molding (“CBM” or the “Company”) on its sale to Pretium Packaging, LLC (“Pretium”), a leading supplier of custom rigid plastic packaging solutions, and a portfolio company of Genstar Capital, LLC.
CBM is a dynamic, entrepreneurial manufacturer of rigid plastic containers, serving many of the most prominent names in the fast-growing sports nutrition, nutraceutical and health & wellness sectors. CBM acts as a full service packaging provider, offering a catalog of over 250 SKUs with container sizes ranging from 2oz up to two gallons and distributing a full portfolio of closures to meet the unique needs of its customers. The Company operates from facilities strategically located in Southern California, Illinois and Texas.
“Mesirow Financial’s extensive industry knowledge and experience was invaluable, and resulted in a highly competitive process that ultimately paired CBM with the ideal strategic partner in Pretium,” said Bill McNeal, president and chief executive officer of CBM. “The combination of Pretium and CBM will allow us to continue to efficiently serve our customers throughout North America, while providing a more customized and innovative suite of product offerings.”
Joe Abbott, executive vice president of CBM added, “It was our goal to join with a partner that we knew would be as devoted to CBM’s customer service and growth objectives as we are, while also deriving a strong value for the company’s shareholders. The Mesirow Financial team was committed to delivering on that goal, and their guidance throughout the process enabled us to achieve the best outcome.”
Rick Weil, managing director of Mesirow Financial’s Investment Banking group commented, “It was an honor to help facilitate the partnership of these two highly regarded companies in the plastic packaging industry. We believe CBM’s comprehensive portfolio of attractive blow molded container solutions complement Pretium’s current platform and will allow for continued strong growth.”
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 100 transactions in recent years.
About Custom Blow Molding
CBM is headquartered in Southern California, one of the largest consumer markets in the country and a hotbed for innovation and fresh trends. The Company is a full scale production company and has been manufacturing plastic packaging, containers, and parts for over 20 years. A steadfast commitment to customer service and the highest quality standards have become the hallmarks of CBM. The Company is led by a world class team of Fortune 500 executives and packaging industry veterans with over 150 years of combined experience in blow molding, packaging, and consumer products. CBM is the #1 packaging supplier for the sports nutrition and supplement industries in North America. To learn more, please visit customblowmolding.com.
About Pretium Packaging
Based in Chesterfield, MO, Pretium manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling to manufacture. Pretium utilizes its national manufacturing footprint, design and engineering capabilities, and full range of process capabilities to provide customized solutions to its customers in the food & specialty beverage, household and industrial products, pharmaceutical, agricultural chemical and personal care markets. Pretium distinguishes itself through service, flexibility, speed-to-market and engineering capabilities. Pretium sells its products to a diversified customer base of over 700 companies ranging from Fortune 500 companies to smaller privately-owned businesses. To learn more, please visit pretiumpkg.com.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions that deliver measurable results. To learn more, please visit mesirowfinancial.com.