DEERFIELD, Ill., April 22, 2014 /PRNewswire/ -- Private equity firm Olympus Partners, Stamford, Conn., has agreed to acquire Pregis Corporation North America, a protective packaging materials and systems manufacturer, for an undisclosed amount.  The transaction is expected to be completed by the end of May.

"Olympus Partners looks for enterprises that have established a leading market position and have a strong management team.   We believe that such companies will enjoy greater long term value creation and generate superior investment returns.  Pregis meets those criteria and we are pleased to add the company to our diverse investment portfolio," said Manu Bettegowda, partner. "Pregis is well positioned for growth with innovative solutions, expanding markets and solid channel partnerships.

Pregis' current management team, led by Kevin Baudhuin, president and chief executive officer, will continue under Olympus ownership.  The company has been owned by private equity firm AEA Investors LLC since 2005. Under its ownership, investments were made via acquisitions (Surface Guard and IntelliPack), as well as in technology development, including a variety of protective packaging systems and material launches.

"Over the past decade, Pregis has established a strong track record of growing its business through product development, market diversification and acquisition. Olympus Partners will continue supporting that growth by investing significant capital in the business. This will help accelerate our strategic and innovation vision," said Baudhuin.

In North America, Pregis operates 14 facilities producing a variety of protective packaging products and value added system solutions.   Pregis partners with industrial and packaging distributors, fabricators and specialty suppliers to deliver customer-driven solutions to a wide variety of end use markets.

About AEA Investors
Founded in 1968, AEA is a pioneer in the private equity industry. Its track record reflects superior returns as a leading private equity partner to middle-market companies. AEA focuses on control buyouts in four industry sectors: value-added industrial products, specialty chemicals, consumer products and related services. For more information: www.aeainvestors.com.

About Olympus Partners
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 consumer products, healthcare, financial services and business services. For more information: www.olympuspartners.com.

About Pregis
Pregis Corporation is a leading global provider of innovative protective packaging materials and systems. The company offers solutions for a wide variety of consumer and industrial market segments including food, beverage, healthcare, medical devices, agricultural, e-commerce, retail, automotive, furniture, electronics, construction and military/aerospace. For more information: www.pregis.com.

SOURCE Pregis Corporation