Carlyle Group buys packaging company Chesapeake Ltd.

Published: July 8, 2013 12:48 pm ET
Updated: July 8, 2013 3:06 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Blow Molding

Packaging manufacturer Chesapeake Ltd. has been purchased by Washington-based private equity firm Carlyle Group.

Chesapeake, headquartered in Nottingham, England, specializes in value-added paper packaging products and systems for the pharmaceutical, confectionary and premium drinks market.

The company has plastics operations as well. Its specialty chemical packaging division makes blow molded bottles, containers and preforms from PET and both conventional and fluorinated high density polyethylene.

The purchase will enable Chesapeake to continue growing and developing its business, as well as to allow the company to “to respond effectively to new business opportunities as we look to further align our business with our customers’ global requirements,” said Mike Cheetham, CEO of Chesapeake, in a news release.

Carlyle plans to further develop Chesapeake’s international footprint and “invest in delivering industry leading products and services,” according to the release.

Chesapeake had sales of 580 million euros ($746 million) in 2012.

Chesapeake has 37 plants across nine countries, including 5 facilities in the United States. The company has about 5,000 employees.

Chesapeake was purchased by private equity firm Irving Place Capital and funds managed by Oaktree Capital Management in May 2009. The sale moved Chesapeake from a publicly traded company based in the United States to a private, independent company headquartered in Europe.

During that time, Chesapeake made investments to expand capacity and enhance manufacturing, and completed three add-on acquisitions, according to a news release from Irving Place.

Carlyle funded its purchased through Carlyle Europe Partners III LP, a 5.3 billion euro fund that makes mid- and large-cap investments. Terms were not disclosed.

 


Comments

Carlyle Group buys packaging company Chesapeake Ltd.

Published: July 8, 2013 12:48 pm ET
Updated: July 8, 2013 3:06 pm ET

Post Your Comments


Back to story


More stories

Image

Western Case grows with investments in infrastructure and equipment

February 27, 2015 5:56 pm ET

RIVERSIDE, CALIF. — Blow molder Western Case Inc. has invested significantly in infrastructure and equipment while relocating and raising the...    More

Image

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events