Olympus acquired Pregis LLC, based in Deerfield, IL. in May 2014. Pregis is a leading provider of protective packaging solutions serving two primary business segments, (i) Manufactured Products (sheet foam and bubble wrap) that accounted for 70% of the revenue and (ii) Systems (on-demand packaging solutions) accounting for 30% of revenue. Olympus believed that the Company needed to bring additional focus to the Systems category as Olympus believed e-commerce would drive growth. Through collaborating with the strong management team already in place, Olympus was able to help Pregis accomplish the following:
- Executed two strategic acquisitions enabling Pregis to have the most complete line of Systems products in the industry – whether the solution for the customer involved air pillows, paper, bags or foam. The company was able to grow double digits every year and become the market leader for Systems worldwide. Systems accounted for 70% of revenue when the Company was sold in 2019.
- Executed on a relatively small acquisition to insource the business’ film requirements. We then dramatically expanded this business through aggressive capital investments. Ultimately, Pregis was able to fulfill all of their internal needs and was able to build another avenue for growth through third-party sales of films, under the Pregis Films umbrella.
- Invested over $200 million in capital expenditures during the course of our ownership, to increase the number of Systems in the marketplace and to fund the internal film production.
- Completed six acquisitions from 2014 to 2019.