Pretium Packaging LLC, a custom blow molder that makes rigid plastic containers and closures, has acquired Intertech Corp., a privately owned manufacturer of proprietary plastic bottles based in Greensboro, N.C.
Terms were not disclosed for the deal, which is Pretium's second acquisition since December, when it bought Tri-Delta Plastics to get into new markets and product categories related to spices and seasonings.
Founded in 1974, Intertech makes blow molded high density polyethylene products and containers for a wide range of end markets, including specialty chemical, personal health care, institutional, household, automotive and agricultural.
The Intertech transaction is another strategic move, this time to expand geographic reach, according to Pretium President and CEO George Abd.
“The acquisition of Intertech gives Pretium our first location in North Carolina and a great team that will enable us to leverage that location to better serve customers in the region,” Abd said in a news release.
Pretium, which was acquired by Genstar Capital LLC last year, is shopping for more businesses, Abd added. Genstar, the private equity firm, currently has more $3 billion committed to select industries.
“We remain pleased with the strong pipeline of potential transactions of independent manufacturers from which we continue to identify new strategic growth opportunities,” he said.
Based in Chesterfield, Mo., Pretium has a national manufacturing footprint and sells products to more than 700 companies in the food and specialty beverage, household and industrial products, pharmaceutical, agricultural and personal care markets.
