August 22, 2019

Trive Capital Exits Precise Packaging

Fall River, Massachusetts and Dallas, Texas

Trive Capital (“Trive”) announced today that it has sold Precise Packaging LLC (“Precise” or the “Company”) to PLZ Aeroscience Corporation (“PLZ”), a member of the Pritzker Private Capital group of companies. Founded in 1988, Precise is a leading formulator and manufacturer of aerosol and liquid products, serving as a strategic partner to top personal care and home fragrance brands. The Company is a niche market leader in highly complex small batch and small format solutions, which Precise supports through its value-added R&D capabilities and specialized manufacturing processes that offer unmatched quality.

Since partnering with Trive in 2012, Precise realized strong growth driven by investment in manufacturing capabilities and capacity that underscored the Company’s commitment to delivering full turnkey solutions to customers. Additionally, Precise has crafted a highly talented management team, who have collaborated with Trive, to offer customers a compelling combination of formulation development, product design, compounding, filling, packaging, and delivery. As a result, the Company is well positioned to continue to grow as a differentiated, service-oriented partner for customers.

David Stinnett, Partner at Trive, stated, “Precise was formed to be a value-add formulation and production partner to leading personal care and consumer health brands. During Trive’s ownership, the Company has expanded capacity, added new capabilities and built a world class management team who collaboratively executed on a shared vision. As a result, the Company is well positioned for continued success, and we believe PLZ is the best partner to continue this momentum via further investment in the business and its people.”

“Over the past five years, Precise has transformed into an end-to-end service provider that is an industry leader in the formulation, design and production of complex personal care products,” commented Shaun Gaus, President & CEO of Precise. “The partnership with Trive was critical as the business developed and executed an ambitious operational value plan dedicated to offering a more compelling value proposition to our customers. The Precise management team is excited to begin a new partnership with PLZ, who we believe offers additional resources, relationships and capabilities that will continue to support the Company’s growth.”

Lazard Middle Market, LLC served as the exclusive financial advisor and King & Spalding LLP provided legal counsel to Precise in the sale to PLZ.

 

About Precise

Precise is a leading manufacturer of aerosol and pump spray products for the personal care, regulated / OTC, and household end-markets. The Company’s offering includes room sprays, fragrance oils, cosmetic mousses, deodorants, and other solutions. Precise delivers turnkey services from initial laboratory formulation and material sourcing, through production, filling, quality check, and delivery.


About Trive

Trive Capital is a Dallas, Texas based private equity firm with more than $7 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

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