Tag Archives: Industrie

Ardian acquires a stake in NetCo Group, a European leader in the design and general maintenance of conveyor systems, alongside the founding family Perriez

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Paris, June 17, 2021- Ardian, a world-leading private investment house, today announces that it has acquired a stake in NetCo Group, following investment from funds managed by IK Investment Partners (“IK”) and Andera Partners.

Founded in Bordeaux in 1902 by the Perriez family, NetCo has established itself as a European leader in the market for general maintenance and servicing of conveyor systems across a wide range of production sectors – particularly food processing, logistics, minerals and agro-food.

Now led by Samuel and James Perriez, the fourth generation of the Perriez family, the Group has recently expanded through a combination of strong organic growth as well as an ambitious acquisition strategy. This is evidenced by over 20 bolt-ons carried out since 2015, including the acquisition of stakes in ABM TECNA in Belgium in 2017, and in other European companies in the same sector, in Spain and Germany among others.

Today the Group manages a network of over 100 service points across France, Spain, Belgium, Germany and Luxembourg.

With the support of the Ardian Expansion team, NetCo’s management team – led by Samuel and James Perriez – intends to continue the Group’s expansion strategy both in France and internationally, taking advantage of the growing outsourcing of maintenance services in Europe, a market still highly fragmented.

The completion of the transaction remains subject to the approval of the competition authority.

Alexis Lavaillote, Managing Director of Ardian Expansion, said: “We have been impressed by the growth of NetCo and we are looking forward to working with its exceptional management team in a family business. The Group’s excellent reputation and the quality of the management team led by Samuel and James Perriez have enabled it to become a major European player. Supporting NetCo in the next stage of its development through this strategic partnership is a great opportunity.”

Samuel and James Perriez from NetCo added: “Our goal, to accelerate our international development by capitalising on our values, the ones of a family business, means that we see Ardian as a natural fit with whom to join forces. We believe the Expansion team has all the skills and expertise necessary to enable NetCo Group to achieve its growth ambitions.”

Pierre Gallix and Arnaud Bosc, Partners at IK and advisors to the IK Small Cap II Fund, commented: “The transformation of NetCo into a leading player on the European market in just two years demonstrates IK’s value as an investor and partner. We have been delighted to support them in their growth and would like to take this opportunity to congratulate Samuel and James Perriez for their exceptional leadership and wish them and Ardian all the best for this new chapter.”

François-Xavier Mauron, Partner and Arthur Milliard, Investment Director of Andera MidCap added: “We met Samuel and James Perriez in 2016 and we are very proud to have supported them in their growth, which has seen the company more than tripled in size in fewer than four years. Netco has grown into an international player through its organic and external growth that has been accelerated by the support of our fellow partners at IK since 2019.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

Ardian
Headland
Viktor Tsvertanov
Phone: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk

IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 150 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

Ardian

Ardian is a world-leading private investment house with assets of US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,100 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt. For more information, visit www.ardian.com

NetCo

Founded in 1902, NetCo is the European specialist in the design, global maintenance and servicing of conveyor systems present in all production sectors (minerals, agro-food, logistics and environmental). With a network of over 100 service points, NetCo is recognised for its responsiveness, efficiency and highly technical, tailor-made services. Today, more than 950 employees work in the company’s various activities and sectors. For more information, visit www.groupe-netco.com

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Egeria invests in Elastofirm to support its next growth phase

Egeria

Amsterdam – June 9th, 2021 – The shareholders of Elastofirm have agreed to sell a majority stake to investment company Egeria. Existing shareholders and management will reinvest going forward.

Elastofirm has achieved strong growth in recent years through a successful buy-and-build strategy in the rubber market. Today, Elastofirm operates seven production sites in the Netherlands and Germany. Through its operating companies, the group provides customized compounds and tailor-made products to a broad range of loyal customers operating in various industries. In 2021, Elastofirm acquired Poppe Elastomertechnik GmbH (Germany) and a majority stake in QEW Engineered Rubber (Netherlands).

The investment by Egeria provides the company with the financial and operational support to continue its growth through international expansion and further acquisitions. Elastofirm’s inorganic growth strategy is focused around acquiring specialized companies active in the European rubber and plastics market.

Sander van Alphen, partner at Egeria: “We are impressed by the growth track record of Elastofirm and its operating companies. Through a combination of entrepreneurship, in-depth technical knowledge, customer intimacy and an efficient production setup, Elastofirm has built a strong market position in a fragmented market. We have a lot of confidence in the team and are excited to be able to support them in realizing the next growth phase of the business.”

Wim Noorlander, Elastofirm: “We are proud of Elastofirm and our employees that have contributed to the success of the group. Elastofirm has strong growth ambitions and we look forward to work together with Egeria to achieve these in the coming years.”

About Elastofirm
Elastofirm group consist of operating companies active in the compounding and processing of rubber. The group operates in total five production sites in the Netherlands (Lelystad (2x), Vaassen, Vorden and Hoogezand) and two in Germany (Giessen and Gelnhaussen). The operating companies in the group are Polycomp, Flevorubber compounding, QEW Engineered Rubber, Flevorubber Extrusie, Technische Profielen Produktie and Poppe Elastomertechnik. The Elastofirm group has been built over the last decade by the current shareholders through a successful buy-and-build strategy.

About Egeria
Established in 1997, Egeria is an independent Dutch investment company focused on medium-sized enterprises. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million. Egeria believes in building businesses jointly with enterprising management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 12 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 6 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ circa 12,000 people. Other activities include Egeria Real Estate Investments, Egeria Real Estate Development and Egeria Listed Investments. In 2018 Egeria launched Egeria Do, a corporate giving programme that supports projects in the world of art, culture and society, but also within its investee companies.

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Alro Group is taking an important step in its rapid growth as an e-mobility surface treatment specialist

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GIMV
Gimv makes an additional investment in Alro Group following an important step in the company’s evolution: Alro Group has concluded a strategic partnership with IPC, the German specialist in fire-resistant coatings. In collaboration with IPC, Alro Group will apply fire-resistant coatings in electric vehicles (‘EVs’). With this, Alro Group is responding to the new e-models that many car brands are launching and to the challenges that the fire safety of batteries entails.

The electrification of the vehicles on our roads is gathering pace. With a concern for greater sustainability and driven by climate standards and emerging legislation, many car brands are rolling out their e-models more quickly. An increasing pain point for electric cars is the fire safety of batteries. Lithium-ion battery cells can overheat, which in a chain reaction (‘thermal runaway’) can lead to a rapid and life-threatening fire.

It is precisely this risk to which IPC’s innovative technology provides an answer. Responding to the rapid arrival of electric cars and stricter fire safety regulations, IPC has developed a new solution for coating EV battery housings. IPC’s unique fireproof coating outperforms competing technologies and has generated interest among electric vehicle manufacturers worldwide. Where IPC has in-house expertise in fire-resistant coatings, Alro Group specialises in the professional application of coatings on a large industrial scale, including for demanding automotive industry customers. The cooperation and complementarity of Alro Group and IPC create a promising future.

Christophe Van Quickenborne, Partner at Gimv, explains: “In the past year, Alro Group has taken some very attractive steps in the functional coating of EV parts. In addition to the Audi e-Tron, Alro now also provides the functional surface treatment of critical parts of Volvo and Porsche electric powertrains. IPC’s innovative fire protection coating is a particularly attractive additional product that will enable Alro Group to accelerate its strong growth in the EV segment. We are of course also very pleased to be able to contribute in this way to the further and safer greening of the world’s vehicle fleet.”

For more information, we refer to the attached press release of Alro and IPC.

Read the full press release:

English – French – Dutch – German
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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Mentha invests in Dutch specialist in sustainable packaging Multitubes Group

Mentha

Mentha has entered into a partnership with Multitubes Group to enable further growth. Multitubes was founded in 1999 by the Rensen family and has since grown into a specialist in sustainable packaging with customers throughout Europe. The company was the first in the world to launch a negative CO2 emission tube onto the market made from sugar cane. In addition, all tubes produced by the Multitubes Group are fully recyclable. The investment supports organic growth and paves the way for strategic acquisitions.

Multitubes offers a full range of packaging for cosmetics, food, pharmaceuticals and industrial products with its two factories and various sales offices. Flexibility, innovation, sustainability, and quality form the basis for the company which currently employs about 135 people. Multitubes focuses on custom tubes, in addition to standard sizes, and therefore has the capacity to make and deliver almost every conceivable tube packaging including a range of prints and labels.

Rob Rensen, Managing Director of Multitubes: “Our company has grown rapidly in recent years, which is down to the teamwork, dedication and motivation of everyone who works here. With Mentha as a financial partner, this growth can be sustained, and we have more clout to make a sustainable difference in packaging internationally.”

Mentha chose to take a stake in Multitubes because of the company’s innovation efforts, the importance placed on sustainability, as well as the entrepreneurial character of the founders. The focus in the coming period will be on growth, including growth through acquisitions, and the joint development of the most innovative and qualitative packaging for the various sectors served by Multitubes.

Mark van Ingen, partner at Mentha: “Multitubes originated from the drive and pioneering mentality of the Rensen family. In the past 21 years they have managed to turn it into a very mature company. The culture of Multitubes and the DNA of the founders is very much in line with that of Mentha; we speak the same language and are clearly complementary to each other. The initiatives taken on the sustainability of plastics also appeal to us, and together we will work hard to remain at the forefront of the packaging industry.”

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Ferd and other owners considering diversifying ownership of Aibel, preferably through an IPO

Ferd

In recent years, Aibel has undergone a transition from the oil and gas industry into renewable energy. Half of the order book now comprises projects related to offshore wind power and electrification.

To further accelerate the growth the Board and owners believe it would be advantageous to strengthen the company’s balance sheet. Aibel’s owners, including Ferd AS, are considering the possibility of diversifying the company’s ownership, preferably through a listing on the Oslo Børs. However, a final decision has not been taken.

Ferd currently owns 50% of Aibel. The other owners are Ratos (32%) and Sixth AP Fund (18%).

For further information, visit Aibel.

This release is not and does not form part of an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration.

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Ratos and other owners considering diversifying ownership of Aibel

Ratos

Aibel’s owners, including Ratos AB (publ) (“Ratos”), are considering the possibility of diversifying the company’s ownership, preferably through a listing on the Oslo Børs, in order to further accelerate its transition into the renewable energy industry. However, a final decision has not been taken.

Ratos currently owns 32% of Aibel. The other owners are Ferd (50%) and Sixth AP Fund (18%).

“Aibel has undergone an outstanding transition over the past five years with Mads Anderson as CEO. Its operations are stable, and half of the order book now comprises projects related to offshore wind power and electrification. The company is in a transitional period, and the Board and owners believe it would be advantageous to further improve the company’s financial conditions for continued growth,” says Christian Johansson Gebauer, Business Area Manager at Ratos and Board member of Aibel.

For further information about Aibel, visit https://aibel.com

For further information:
Christian Johansson Gebauer, Head of Business Area Construction & Services
+46 8 700 17 00

Johan Hähnel, Acting Head of Communications and IR
+46 8 700 17 00

This release is not and does not form part of an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Diab has agreed to acquire ULTEM TM Foam production line, to better serve high end core material segments

Ratos

Diab has acquired the ULTEMTM foam production line from SABIC, a global chemical company, to broaden product offering and better be able serve high end core material applications. ULTEMTM resin-based foam has excellent fire, smoke and toxicity (FST) properties making the material especially well-suited for aerospace applications.

ULTEMTM resin-based foam is a recyclable PEI (Polyetherimide) thermoplastic foam used mostly in aerospace applications. Diab will incorporate the product into its current portfolio under the name Divinycell U.

“We are excited to broaden our portfolio with the acquisition of the ULTEMTM foam production line and develop the technology further,” says Diab’s CEO, Tobias Hahn. “This will strengthen our position in the market, enabling us to offer even more fit for purpose core material. Strong material properties in fire, smoke and toxicity is very important in the aerospace segment and we believe that Divinycell U will complement our current FST range benefitting our customers.”

Diab will relocate the acquired production line equipment to its manufacturing site in DeSoto, TX, USA. Beginning Q3-2021, Diab will produce and market the Divinycell U portfolio to existing and new users of the ULTEM™ resin-based foam.
For further information, please contact:
Tobias Hahn, CEO, Diab Group
+46 70 890 94 98
tobias.hahn@se.diabgroup.com

Joakim Twetman, Head of Business Area Industry, Ratos
+46 70 339 16 66
joakim.twetman@ratos.com

 

About Diab:
Diab offers industry-leading competence together with the broadest range of stronger, lighter, smarter core materials. Today Diab is one of the world’s largest manufacturers of structural core materials with a turnover of approx. SEK 2,1 billion and 1,300 co-workers. Diab has six strategically located manufacturing sites and 14 sales units worldwide to support its global customers. Diab is owned by Ratos AB and is a UN Global Compact participant for a more sustainable society.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

SABIC and brands marked with ™ are trademarks of SABIC or its subsidiaries or affiliates.

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Graphic Packaging Holding Company to acquire AR Packaging from CVC Funds

CVC Capital Partners

Acquisition for $1.45 Billion in cash will create premier global provider of sustainable fiber-based consumer packaging solutions

  • Combination strengthens global positioning and expands scale in large and growing European fiber-based consumer packaging markets
  • Growth trajectory of combined company aligns with Vision 2025, providing significant value creation for stockholders and other stakeholders
  • Graphic Packaging to host conference call at 8:30am EDT/2:30pm CEST today to review transaction details

Graphic Packaging Holding Company, (“Graphic Packaging” or the “Company”), a leading vertically-integrated provider of sustainable fiber-based consumer packaging solutions, and CVC Capital Partners Fund VI today announced a definitive agreement under which Graphic Packaging will acquire AR Packaging Group AB (“AR Packaging”), Europe’s second largest producer of fiber-based consumer packaging, for approximately $1.45 billion in cash, subject to customary adjustments.

The combination enhances Graphic Packaging’s global scale, innovation capabilities, and value proposition for customers throughout Europe and bordering regions. With a broad set of industry-leading packaging solutions, design expertise, and expanded geographic reach, the combined company will be uniquely positioned to capture continued organic growth opportunities across existing and new global customers and markets.

The proposed acquisition of AR Packaging is expected to add $1.1 billion in annual sales and $160 million in annual Adjusted EBITDA. In addition, the combination is expected to drive total synergies of $40 million over 36 months following close. The deal is expected to be immediately accretive to the Company’s earnings per share and cash flow.

Michael Doss, Graphic Packaging’s President and CEO said, “AR Packaging is a leader in the attractive and growing market for sustainable packaging in Europe. Acquiring AR Packaging will result in significant value creation opportunities for our customers, our employees, and our stockholders as we bring together two leading providers of fiber-based consumer packaging solutions with long histories of innovation and creative packaging design. The large, distributed footprint of AR Packaging’s 25 converting facilities across Eastern and Western Europe provides significant scale and cost efficiency benefits strengthening our combined presence and ability to service customers throughout Europe and globally. We are pleased to welcome the AR Packaging team as we work together to further advance our commitment to sustainable packaging solutions for global consumers in support of the move to a more circular economy.”

Stephen Scherger, Graphic Packaging’s EVP and CFO added, “The acquisition of AR Packaging expands our opportunities to serve and grow in markets around the world with our sustainable packaging solutions. The combination, together with our previously announced acquisition of Americraft Carton, supports our growth goals and positions Graphic Packaging to consistently deliver organic sales growth at the high end of our 100 to 200 basis points goal as outlined in Vision 2025. Notably, the lean operating models executed by both organizations, coupled with our complementary market segments, provide compelling financial benefits. The significant cash flow generation capability of the combination will drive strong returns and is expected to return Graphic Packaging to our long-term 2.5-3.0x target leverage range within 24 months following close.”

AR Packaging’s President and CEO, Harald Schulz, said, “I am proud of the progress we have made in establishing a clear strategy and building AR Packaging into a respected provider of packaging solutions. I want to thank CVC for their support in those efforts over the last five years. Graphic Packaging’s shared approach to customer service and deep focus on providing innovative, sustainable solutions closely aligns with how we operate our own business, making them an ideal partner. The ability to leverage beneficial value chain integration, from paperboard manufacturing to carton converting, provides increased possibilities to offer sustainably optimized solutions to our customers. Our team looks forward to joining with the Graphic Packaging team to become the premier global provider of sustainable fiber-based packaging solutions.”

Lave Beck-Friis, Managing Director at CVC, commented, “We are very proud of the progress AR Packaging has made during our partnership. It has been a pleasure working with Harald and his excellent team to develop and roll out numerous new products, as well as investing to support an active M&A agenda to accelerate the growth of the business into a truly global player. We are pleased to be handing AR Packaging over in such a strong position, and to have found a new owner that shares management’s vision for the future direction of the business.”

The transaction, which has been unanimously approved by the Boards of Directors of Graphic Packaging and AR Packaging, is expected to close in four to six months, subject to regulatory approvals and other customary closing conditions.

BofA Securities is serving as financial advisor and DLA Piper is serving as legal counsel to Graphic Packaging. Credit Suisse International is serving as financial advisor and Roschier is serving as legal counsel to AR Packaging.

Investor Conference Call

An investor conference call will be hosted by Graphic Packaging at 8:30am EDT/2:30pm CEST today (May 14, 2021). The conference call will be webcast and can be accessed from the Investors section of the Graphic Packaging website at www.graphicpkg.com. Participants may also listen via telephone by dialing 833-900-1527 from the United States and Canada, and 236-384-2052 from outside the United States and Canada. Telephone participants are required to provide the conference ID 2253579. The event webcast will be available for replay on the Graphic Packaging website beginning at approximately 1:00pm EDT Friday, May 14, 2021.

 

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IK Investment Partners to sell Hansen Protection to Survitec Group

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VII Fund has sold its stake in Hansen Protection AS (“Hansen Protection” or “the Company”) to Survitec Group Ltd (“Survitec”). Financial terms of the transaction are not disclosed.

Hansen Protection, with headquarters in Moss, Norway has over 140 years of experience in design and production of textile products safeguarding people, property and the environment. The Company is a leading European supplier of immersion suits and protective rainwear used in harsh environments and cold water areas, as well as a leading Scandinavian supplier of coated textile products for leisure, marine and niche applications. Trusted by defence, marine, energy, agricultural and emergency response clients for decades, Hansen Protection has a reputation for the provision of outstanding lifesaving products that conform to the most stringent safety standards.

Since partnering with IK in 2013, Hansen Protection has reformed its strategy in the rental and personal protection businesses to also service the growing offshore wind segment though its heliports in Norway, Denmark and the Netherlands, as well as expanding its protective rainwear offering to the wider European market. Through leveraging IK’s operational expertise, the Company has also re-focused on bespoke provision for the energy sector, whilst continuing to win prestigious contracts outfitting European navies, coastguards as well as search and rescue teams.

Terje Gorm Hansen, CEO of Hansen Protection, commented: “It has been our privilege to have partnered with IK, an organisation that shares our Nordic roots and drive for excellence. With their support, we have strengthened our product range and service standards to better serve those that rely on us through the most challenging conditions.”

Christopher Masek, Chief Executive Officer of IK Investment Partners and advisor to the IK VII Fund, said: “With its committed team dedicated to delivering world-class equipment that is trusted and reliable, Hansen Protection has a rich history and an exciting future ahead of it. Together with Survitec, they will continue to provide lifesaving solutions to those working in essential industries and roles.”

Ron Krisanda, Executive Chairman of Survitec Group, said: “The combined portfolios from Survitec and Hansen Protection will offer greater value to our customers by providing one single supplier for Survival Technology. This acquisition reinforces our position as the global leader in the provision of personal protection wear, including suits, lifejackets, and rainwear, across the Marine, Energy, Defence and Aerospace sectors.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
Email: jmcfarlane@maitland.co.uk

About Hansen Protection

Hansen Protection AS is a high-tech company that develops, designs and manufactures both standard and tailor-made hi-tech textile products for various sectors. The company has over 140 years of experience in manufacturing protective clothing and life jackets for seafarers, and has been designing, developing and making rescue and survival suits for the North Sea Oil Industry since 1976. In addition, the company has activities within canopies and interior fittings for leisure boats, as well as products for agricultural applications and the health sector. For more information, visit www.hansenprotection.no

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit: www.ikinvest.com

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KKR to Invest in Charter Next Generation to Grow Specialty Films Leader

KKR

May 6, 2021

All Employees to Become Owners in Company

NEW YORK–(BUSINESS WIRE)– KKR today announced the signing of a definitive agreement to invest in Charter Next Generation (“CNG”), a leading producer of specialty films used in flexible packaging, industrial, healthcare, and consumer applications. KKR will be joining Leonard Green & Partners, L.P. as an equal co-owner of the business, and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will also be investing in the transaction to become a minority owner.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210506005421/en/

With more than 30% of all food produced globally wasted due to spoilage, Charter Next Generation offers solutions for keeping food fresh longer, while maintaining the lowest carbon footprint of any major packaging substrate given its optimized size and lighter weight. These attributes are imperative at a time when in the U.S., for example, 54 million Americans are food insecure, up significantly due to the COVID-19 pandemic. Additionally, with landfills being the third-largest industrial emitter of methane, food waste alone represents 8% of total global greenhouse gas emissions.

CNG manufactures high performance specialty films focused especially on the critical inner lining of packaging, protecting foods and other goods by creating heat resistance, sterility, oxygen and odor barriers, UV shields, moisture protection, and more. These specialty films also allow for recyclability, compostability, and the use of post-consumer resin. In addition, CNG’s high-performance, specialty films are used in a variety of other industrial, healthcare, and consumer applications.

“Charter Next Generation offers the gold standard when it comes to materials science, product quality, innovation, and technical expertise in specialty films,” said Josh Weisenbeck, KKR Partner who leads KKR’s Industrials investment team. “We are looking forward to investing in the company’s growth as they continue to raise the bar in innovation and sustainability.”

“Continuous investment in our film technologies and in our team is mission critical for us, which is why we are excited to partner with these exceptional, forward-thinking firms – particularly for their steadfast approach to employee engagement and ownership,” said Kathy Bolhous, CEO of Charter Next Generation. “Offering all employees ownership in the company aligns everyone around our objectives while providing financial rewards for their efforts, fitting well with our employee first culture.”

For over a decade, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

“We are thrilled to have the opportunity to invest in Charter Next Generation not only because they are an industry leader on many fronts, but also because Kathy and her team are completely aligned with how we approach building stronger manufacturing companies: by building stronger company cultures through a robust employee engagement and ownership program,” said Pete Stavros, KKR Partner and Co-Head of Americas Private Equity at KKR.

Goldman Sachs, Morgan Stanley & Co. LLC, and Latham & Watkins LLP served as advisors to CNG, while Kirkland & Ellis and Deloitte served as advisors to KKR.

KKR is making the investment in CNG through its Americas XII Fund. Further terms were not disclosed.

About Charter Next Generation

Charter Next Generation is North America’s leading independent producer of high-performance, specialty films used in flexible packaging and other end-use markets. Known for sustainable, innovative products and world-class manufacturing capabilities, the company’s quality and expertise are unsurpassed. Its sustainability first mindset, and relentless pursuit of excellence, make it an ideal partner to help brand owners reach their long-term sustainability goals. Visit Charter Next Generation at: https://cnginc.com

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About LGP

Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials. For more information, please visit www.leonardgreen.com.

For Charter Next Generation:
Bill Singer
(856) 981-0991
bill.singer@cnginc.com

For KKR:
Cara Major or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Source: KKR

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