Pfingsten Partners has sold Oliver to Tenex Capital Management
Headquartered in Hauppauge, New York, Oliver is a provider of specialty packaging solutions, including custom folding cartons, blister cards, labels and marketing collateral with dedicated expertise in the food and beverage, pharmaceutical, medical, and health and beauty end markets. Oliver operates from five facilities featuring state-of-the-art equipment supported by a full spectrum of in-house capabilities.
Pfingsten Partners acquired Oliver in 2016 and established the company as a leading specialty packaging platform, completing four successful add-ons, investing in the operating infrastructure, making strategic management team hires and diversifying the product mix into high growth, recession-resilient end markets. Oliver possesses deep customer relationships with an impressive base of both blue-chip and emerging brands built on decades of trust and reliability. Oliver’s combination of product breadth, scale, capabilities and unique market position, supported by favorable secular end market tailwinds, positions the company well for future growth.
Luke Webb, Managing Director in Lincoln’s Industrials Group who leads packaging, commented, “As the impact of environmental, social and governance (ESG) and sustainability plays an increasing role in the entire packaging value chain and focus of the investment community, paper-based packaging suppliers like Oliver are poised to capitalize on strong secular market trends. Consumer brands continue to see their packaging partners as extensions of their own brands, relying on premium features and unique attributes to capture attention on the shelves. We are delighted we could partner with Oliver and look forward to seeing the Oliver platform continue to grow and evolve in the years ahead.”
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago and representative offices in India and China, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 156 manufacturing, distribution and business services companies. For more information, please visit www.pfingsten.com.
Tenex Capital Management
Tenex Capital Management is a private equity firm that makes control investments in middle market companies. The firm utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex boasts a highly successful track record investing in diverse industries, including transportation, industrials, manufacturing, healthcare and business services. For more information, please visit www.tenexcm.com.
Lincoln guided the entire Oliver team from start to finish, helping us communicate the unique culture and many attractive attributes of the Oliver story to the market, which resulted in a highly successful outcome for all parties involved. We are grateful to have had such a trusted and reliable advisor by our side.
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