Appointment signals Pretium's commitment to
providing innovative solutions to its customers as the Company
ushers in a new era of long-term growth
ST.
LOUIS and SANTA MONICA,
Calif. , Aug. 26, 2024 /PRNewswire/ --
Pretium Packaging, L.L.C. ("Pretium" or the "Company"), a
full-service designer and producer of sustainable packaging
solutions for specialized applications, today announced that
James Rooney will join Pretium as
Chief Executive Officer (CEO) and a member of the Board of
Directors. Clearlake Capital Group, L.P. (together with its
affiliates, "Clearlake") acquired
Pretium in January 2020.
Mr. Rooney's industry knowledge and experience complement
Pretium's mission to drive strategic growth and operational
excellence. He brings more than 30 years of leadership experience
in the packaging industry, with a proven track record of strategic
growth, manufacturing excellence, and customer-centric focus. Prior
to joining Pretium, he served as the CEO of DazPak Flexible
Packaging, where he led the integration of six businesses,
streamlined operations, and built a high performing commercial
organization. Prior to this role, Mr. Rooney led ALPLA
Corporation's North American business and held various leadership
roles at Owens Illinois and Amcor.
"I am honored by the opportunity to build upon the foundation
that the Pretium team has established over the years," said Mr.
Rooney. "With its extensive range of high-quality packaging
solutions and focus on sustainability and innovation, Pretium has
scaled to become the supplier of choice for customers around the
world. Pretium is also uniquely positioned to capitalize on
continued sector tailwinds, including emerging trends in health and
wellness, food and beverage, and home and personal care. I am
excited to join the Company and partner with Pretium's leadership
team and employees, valued customers, and the Clearlake team to drive future success in the
business."
"We are thrilled to welcome James to the Pretium executive team.
He brings decades of packaging experience as well as a vision that
complements Pretium's service- and sustainability-oriented
strategy, and his operating experience aligns well with
Clearlake's
O.P.S.® approach," said José E. Feliciano,
Co-Founder and Managing Partner, and Arta
Tabaee, Partner and Managing Director, at Clearlake. "Pretium is positioned to
accelerate its growth and enhance its foundation of operational
excellence under James, and we look forward to a successful
partnership."
About Pretium
Pretium specializes in innovation and
automation of multiple rigid packaging technologies in a diverse
set of end markets including food and specialty beverage,
healthcare, health and wellness, personal care and beauty, and
household and commercial products. The company's multi-use
packaging solutions are based primarily on PET, HDPE, and
polypropylene resin, with a wide array of options including up to
100% post-consumer recycled material content, making it a preferred
choice for customers focused on sustainability. Pretium
differentiates itself through responsiveness, breadth of product
offerings, short changeover times, and a national footprint of 25
automated manufacturing facilities. More information is available
at www.pretiumpkg.com.
About Clearlake
Founded in 2006, Clearlake
Capital Group, L.P. is an investment firm operating integrated
businesses across private equity, credit, and other related
strategies. With a sector-focused approach, the firm seeks to
partner with experienced management teams by providing patient,
long term capital to dynamic businesses that can benefit from
Clearlake's operational
improvement approach, O.P.S.® The firm's core
target sectors are industrials, technology, and consumer.
Clearlake currently has over
$80 billion of assets under
management, and its senior investment principals have led or co-led
over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK, Dublin,
Ireland, and Singapore.
More information is available at www.clearlake.com and on Twitter
@Clearlake.
Media Contacts:
Caroline
Luz
Lambert
Ph: +1 203-570-6462
cluz@lambert.com
or
Jennifer
Hurson
Lambert
Ph: +1 845-507-0571
jhurson@lambert.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/clearlake-backed-pretium-packaging-appoints-james-rooney-as-ceo-302229744.html
SOURCE Clearlake Capital Group