Stamford private equity firm Olympus Partners has agreed to sell Pregis LLC to New York’s Warburg Pincus for an undisclosed amount. Pregis is a protective packaging materials and automated systems manufacturer whose products range from protective envelopes to foam-in-place packaging systems.
Under Olympus’ ownership since May 2014, Pregis made six acquisitions and grew from 14 to 22 manufacturing facilities across North America and Europe. It employs 2,250 people.
Founded in 1988, Olympus manages more than $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.