Target: Plaze Inc.
Sponsor: Olympus Partners
Seller: AEA Investors
Stamford, Conn.-based Olympus would be making the investment out of
The Federal Trade Commission granted the buyout shops early termination of anti-trust review on Aug. 17 for the deal to proceed. Deals typically close soon after these filings.
PLZ’s main subsidiary is Plaze Inc., which has been packaging aerosols since 1947, according to its Web site. The company has two manufacturing facilities, in the St. Louis area and in Chicago. In total, its manufacturing and warehousing facilities are in five buildings comprising 500,000 square feet. The company’s research and development department has a deep focus on environmentally friendly packaging for its customers, its Web site says.
AEA bought the company in late 2005 for an undisclosed amount. The company has since completed three acquisitions, in 2005, in 2010, and the most recent in April, when it bought Camie-Campbell Inc., a St. Louis-based manufacturer and packager of spray adhesives and other products, according to Capital IQ.
Plaze also has an aerosol packaging subsidiary based in Pompano Beach, Fla., called Chemical Packaging Corp., and an Addison, Ill.-based subsidiary called Sprayway that specializes in an aerosol glass cleaner.
Olympus Partners typically targets companies in business services; logistics and transportations services; health care manufacturing and services; financial services; consumer and restaurant; and software and IT services.
David Graebner, the CFO of Plaze, and Rob Morris, managing partner at Olympus, declined to comment. Executives at AEA did not immediately respond to requests for comment.