New York, NY – July 11, 2022 – Tenex Capital (“Tenex”) is pleased to announce its investment in Oliver Inc. (“Oliver”), a manufacturer of paper-based, custom, specialty packaging solutions including folding cartons, blister packaging, and labels primarily utilized in health & beauty, medical & pharmaceutical, and food & beverage applications.
Headquartered in Hauppauge, NY, Oliver was founded in 1924 and operates across 5 locations in MA, NY, VA, OH, and OK with over 500 employees. The company is an industry leader in short and medium run paper-based packaging solutions. Multi-national consumer packaged goods (“CPG”) companies and small emerging-brand customers alike have come to rely up on Oliver for its design support, speed, reliability, and flexibility in creating premium, environmentally sustainable packing solutions that play an outsized role in the consumer experience.
Oliver President and CEO Dan Rodenbush commented, “Oliver is thrilled to be partnering with Tenex to support the company’s next chapter of growth. Our organizations share many of the same foundational values as well as full alignment on Oliver’s go-forward growth potential. Tenex’s deep operating experience will be extremely additive to our company’s expansion by investing in our people, facilities, capabilities, and technology.”
Tenex Managing Director Perrin Monroe said, “Oliver and the value proposition it consistently delivers to its customers is unique and poised for tremendous growth. Dan and his team are a proven group who we look forward to supporting as they continue to expand Oliver’s leadership in the specialty packaging industry.”
The transaction closed on July 6, 2022. Raymond James served as financial advisor to Tenex. Lincoln International served as financial advisor to Oliver.
About Oliver:
Oliver Inc. is a leading provider of highly customized, quick-turnaround, specialty paper-based packaging solutions. Known for its customer support, the company provides a turnkey platform from design to fulfillment, simplifying complex requirements with consistent on-time, on-budget, ultra-high-quality products and services. For additional information, please visit www.oliverinc.com.
About Tenex Capital:
Tenex Capital is a private equity firm that invests in middle market companies. Tenex uses an in-house team of hybrid investment 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 has successfully invested in a diverse range of industries, including industrials, business and tech-enabled services, healthcare, building products, and auto aftermarket, among others. For additional information, please visit www.tenexcm.com.