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Trive Capital (“Trive”), the Dallas-based private equity firm, is proud to announce the acquisition of Precise Packaging, Inc. (“Precise” or the “Company”). Precise is a leading manufacturer of complex pressurized spray products, offering high value-add development, compounding and liquid filling services. The Company is known for its unique expertise in miniature aerosols and pumps, used in personal care and household markets, coupled with a reputation for relentless attention to quality and customer support.
Precise serves over 50 global cosmetic and fragrance companies, delivering hundreds of products and thousands of concentrate blends. The Company operates highly flexible filling lines, along with providing turnkey formulation, mixing, testing and packaging capabilities. As part of the acquisition, Trive has partnered with the Company’s current management team, who will maintain a meaningful ownership position in the business and will continue to lead PPI as it finds new ways to support its customers.
“The PPI team has built an impressive organization, centered on a culture of excellence and close customer relationships,” remarked Conner Searcy, Managing Partner at Trive. “Trive’s experience in the sector allowed us to quickly recognize the Company’s unique market position and future growth potential. We look forward to partnering with management in providing the strategic and financial support necessary to execute on PPI’s numerous opportunities.”
Richard Armstrong, CEO of Precise, commented “We were looking for a partner that could provide more than just capital. Management was impressed with Trive’s ability to develop a vision that will allow the business to grow responsibly while maintaining our commitment to superior service. We believe this partnership will enable us to succeed in expanding our capabilities and footprint.”
Chris Zugaro, Partner at Trive, stated “The acquisition of Precise represents Trive’s second platform investment since the formation of the firm six months ago in June 2012. We remain committed to pursuing attractive lower middle-market companies that can benefit from a strategic partner and exhibit compelling growth potential. We are very pleased that the Precise management team has selected Trive as its partner to further build the business.”
Trive was introduced to Precise by Salem Partners, a Los Angeles-based investment bank focused on middle-market mergers and acquisitions, and was represented during the process by Patton Boggs, a Washington DC-based law firm.
About Precise Packaging
Founded in 1988, Precise Packaging, Inc. (www.precisepackaging.com) is a leading manufacturer of miniature aerosol and pump products. The Company’s products include room sprays, fragrance oils, cosmetic mousses, deodorants, and other solutions used in personal care and household markets. The Company offers turnkey services from initial laboratory formulation and material sourcing, through production, filling, quality check and delivery.