Tri-Delta Plastics Sold to Pretium Packaging
Dec 17, 2014
Southfield, MI – December 17, 2014 – P&M Corporate Finance (PMCF) is pleased to announce that it served as the exclusive financial advisor to Tri-Delta Plastics (Tri-Delta), of Hillsborough, NJ in its successful sale to Pretium Packaging (Pretium), of Chesterfield, MO. Pretium is a portfolio holding of Genstar Capital (Genstar), based in San Francisco, CA.
Pretium (www.pretiumpkg.com), with sales of $241 million according to Plastics News, manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling. 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. The Company sells its products to a diversified customer base of over 600 companies ranging from Fortune 500 companies to smaller privately-owned businesses.
Tri-Delta (www.trideltaplastics.com) is a manufacturer of a complete line of proprietary rigid packaging products to the food, healthcare, and household chemicals end markets. The Company has invested heavily in its in-house technology and production infrastructure and today is a trusted supplier for containers, bottles, and closures, primarily within the spice and seasonings end market, a market category currently not served by Pretium. In addition to its spice market leadership position, Tri-Delta's track record includes successful expansion of its product portfolio into new end markets, including healthcare and household chemicals.
Thomas J. Dolan, Former Owner and President of Tri-Delta, said, "Our commitment to proprietary product development, superior customer service and responsiveness, and robust manufacturing processes forged our solid reputation within the packaging industry over the past quarter century. We are proud of the strong business we have built and the great team that leads it."
Tri-Delta selected John Hart and PMCF’s Plastics & Packaging Group to serve as exclusive financial advisor for the transaction. Dolan noted, “We are very pleased with PMCF’s representation of Tri-Delta through every step of the sale process. John and his team helped us prepare for and execute a process that led to a successful outcome for all parties involved. They are clearly experts in the packaging industry and I’d be surprised if there is a better firm out there with their capabilities.”
PMCF is a middle market investment bank providing global merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, and strategic advisory. The firm has dedicated industry teams providing services to the plastics and packaging, medical technology, industrials, and business services industries. PMCF has offices in Chicago and Detroit and around the globe via its Corporate Finance International associates. For more information, visit www.pmcf.com.