Private equity firm Oak Hill Capital Partners has entered into a definitive agreement to acquire rigid packaging products company Berlin Packaging from Investcorp.
Oak Hill is investing in partnership with Berlin Packaging’s current management team led by chairman and CEO Andrew Berlin. The transaction is valued at $1.43bn.
Founded in 1898, Berlin Packaging’s end-to‐end operations across the supply chain provide customers of all sizes in all industries with a one-stop-shop for all their packaging needs. Berlin Packaging’s broad offering of services includes structural and brand design, worldwide sourcing, warehousing & logistics, and capital financing.
Tyler Wolfram, managing partner at Oak Hill, said: “Berlin Packaging is a high-calibre business experiencing double-digit growth and targeting a large addressable market opportunity. We are excited to partner with Andrew Berlin and his talented team to support the company through its next phase of growth, as the company expands organically and through strategic acquisitions.”
“We are extremely pleased to be partnering with Oak Hill,” said Andrew Berlin. “Oak Hill has a longstanding history of building superior businesses and a reputation for strong partnership with management. It was important to join with a firm that shares the same culture and belief system as Berlin Packaging and that is committed to growing our company by offering increased value to our customers, suppliers and employees. I know Oak Hill will be a tremendous partner for us. We would also like to thank Investcorp for their partnership over the last seven years.”
“We have tremendous respect for Berlin Packaging’s heritage and are very excited about its prospects for continued strong performance,” said Brian Cherry, partner at Oak Hill. “Berlin Packaging is a juggernaut that already grows multiple times faster than the packaging industry, and we look forward to further bolstering the company’s best-in-class business model and customer focus to continue its growth trajectory.”
The transaction, subject to HSR approval and other customary closing conditions, is expected to close in the third quarter of 2014.
Source: Berlin Packaging
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