Evergreen Pacific Partners teams up with PAC Stain

Evergreen Pacific Partners announced on September 12 that it has purchased a majority stake in PAC Stainless, LTD. Evergreen Pacific Partners is Washington State’s largest private equity fund. PAC Stainless is a leading supplier of stainless steel and specialty alloy instrumentation tubing and fittings.
Evergreen will be partnering with Gary Ohrt, one of the three co-founders of PAC Stainless. Ohrt will retain a significant stake in the company and continue to lead as Chief Executive Officer. Evergreen’s acquisition will provide PAC Stainless access to capital and strategic resources to enable future growth.
“Thirty-six years ago PAC started with less than $2,000 in inventory, and today we supply millions of feet,” said Gary Ohrt, co-founder and CEO of PAC Stainless. “With Evergreen’s support, we will continue to grow our network of facilities and inventory across the country and internationally, extending our leadership position in the industry and increasing support to our customers.”
PAC Stainless offers a deep inventory of stainless steel and specialty alloy instrumentation tubing and fittings.
“Our investment in PAC Stainless is exactly in line with our overall investment focus of partnering with leading companies in traditional industries that we can position for future growth,” said T.J. McGill, co-founder and managing partner at Evergreen Pacific Partners. “We’re looking forward to working with Gary to help him build on the great foundation that he has built.”
Evergreen Pacific Partners 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. Its investors include foundations, endowments, pension funds, and West Coast-based CEOs with experience in Evergreen’s target industries.
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