KLÖCKNER PENTAPLAST
Blackstone buys German films producer
German rigid PVC films manufacturer Klöckner Pentaplast (kp, Montabaur; www.kpfilms.com) has been acquired by US private equity giant Blackstone (New York; www.blackstone.com) for EUR 1.3 bn (USD 1.8 bn). Seller is European private equity investor Cinven (London / UK; www.cinven.com) with minority partner CCMP, a subsidiary of investment bank JP Morgan.
The packaging producer with 3,400 employees and 21 manufacturing sites had sales of EUR 1.2 bn in 2006. In a statement, Cinven, which acquired the company in 2001, noted that under its ownership the company had grown "organically," making seven strategic acquisitions – see Plasteurope.com Web of 25.08.2006.
The packaging producer with 3,400 employees and 21 manufacturing sites had sales of EUR 1.2 bn in 2006. In a statement, Cinven, which acquired the company in 2001, noted that under its ownership the company had grown "organically," making seven strategic acquisitions – see Plasteurope.com Web of 25.08.2006.
09.05.2007 Plasteurope.com [208052]
Published on 09.05.2007