UK plastic packaging specialist Petainer (Peterborough; www.petainer.com) has completed a EUR 100m debt and equity investment deal with KKR Credit (London / UK; www.kkr.com). The funding is being used to refinance Petainer’s capital structure and support its growth strategy. Private equity group Next Wave Partners (London; www.nextwave-ventures.com) remains the majority shareholder while KKR Credit takes a “substantial minority” stake.

Petainer’s CEO, Nigel Pritchard, said the transaction provides substantial resources for the company to enable continued rapid growth via new product development and international expansion. “We have already launched a number of initiatives to help drive growth, including our online store serving the brewery and winery sectors, a new app to support our market-leasing 'petainerKeg' and the launch of our PET watercooler, now with a handle, which rivals polycarbonate,” said Pritchard.

He added that Petainer was close to completing a deal to establish an innovation centre in the UK to help drive new product development.