Genstar Agrees to Acquire Castle Harlan's Pretium Packaging
May 02, 2014
Genstar Capital has agreed to buy Pretium Packaging, a maker of customized, high-performance rigid plastic bottles and containers, from Castle Harlan and Nicolet Capital Partners. The transaction is reported to clock in at $331 million, with Pretium taking out $150 million in 11.5% senior secured notes as part of the deal. The company supplies a wide range of bottles and containers to food, personal care, household, healthcare and pharmaceutical end markets, operating 10 manufacturing facilities in the U.S. and Canada. Castle Harlan bought the company in 2010, with Nicolet Capital making a supporting minority equity investment.