Business Description

Novapak is a blow molder of plastic containers for a diverse range of consumer, household and industrial products in low to mid volume applications. The company specializes in narrow neck bottles and has an extensive library of PET pre-forms that are utilized in the two-stage stretch blow molding process.

Background

Novapak was acquired simultaneously with Pretium Packaging, L.L.C. to form Pretium Holdings, LLC. Pretium’s founder originally intended to pursue a recapitalization with a partner who could invest additional capital over time to support identified add-on acquisitions and ultimately acquire control of the business. When the opportunity to acquire Novapak was introduced, Pretium and its advisors determined a sale that would allow for a combination of both businesses was the optimal approach.

Outcome

Novapak was sold in connection with the sale of Pretium to a financial buyer in June 2014 resulting in a full realization of Nicolet Capital’s investment.

Testimonials

“During our process, Nicolet distinguished itself from others by very quickly gaining a firm understanding of our business and industry. They focused on the salient business issues and recognized the opportunities without getting mired in minutia during the selection process. Nicolet relied on its deep experience and common sense to determine a valuation for our company. As the original structure changed from our side, Nicolet proved to be very flexible and modified their proposal to accommodate our revised needs.”

– Keith Harbison, Founder & Former Chairman of Pretium Packaging, L.L.C.