September 20, 2012
Evergreen Pacific Partners, a private equity fund in Seattle, has purchased a majority stake in PAC Stainless Ltd., a supplier of stainless steel and specialty alloy instrumentation tubing and fittings. Gary Ohrt, one of the three co-founders of PAC Stainless, retains a significant stake in the company and continues to serve as CEO.
PAC Stainless has warehouse and distribution facilities in Seattle; Houston; Baton Rouge, La.; and Atlanta. Evergreen Pacific Partners, which manages two private equity funds totaling $700 million, invests in traditional buyouts, management-led buyouts, and growth equity investments involving traditional-industry, middle-market companies in the western U.S. and Canada.