Castle Harlan Completes Packaging Deals

Castle Harlan has completed its acquisition of Pretium Packaging, a manufacturer and distributor of plastic containers and closures in North America. In conjunction with the deal, Pretium Packaging acquired Novapak, which also makes specialty plastic containers, from Kirtland Capital Partners. In total, the deals were valued at $200 million. The Novapak sale marks the final exit for the 1996 vintage Kirtland Capital Partners II, which generated a 2.9 times cash-on cash return in total to its investors.