Report: Klockner Pentaplast seeking a buyer

By Frank Esposito
Senior Staff Reporter

Published: August 14, 2013 4:17 pm ET
Updated: August 14, 2013 4:20 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Film & Sheet, Calendering, Extrusion
Companies & Associations Klöckner-Pentaplast of America Inc.

It looks like global films producer Klockner Pentaplast Group is on the selling block again.

Bloomberg News reported earlier this summer that Strategic Value Partners Investment Group — the Greenwich, Conn.-based firm that bought Klockner Pentaplast last year — is working with financiers Goldman Sachs Group Inc. and Jefferies Group LLC to find a buyer for the firm.

Klockner Pentaplast spokeswoman Nancy Ryan, at the firm’s regional headquarters in Gordonsville, Va., declined to comment. Klockner Pentaplast is based in Montabaur, Germany, and employs more than 3,000 at 17 plants worldwide.

In the year ended March 31, Klockner Pentaplast posted sales of almost $1.6 billion, up more than 2 percent vs. the prior year. The firm’s pretax profit was up 9 percent to about $215 million in the same comparison.

Klocker Pentaplast’s annual North American film sales are estimated at $600 million, placing the firm 12th in Plastics News’ most recent ranking of film & sheet manufacturers. Klockner operates five plants in the U.S. and one in Canada, as well as single plants in Germany, Argentina, Brazil, China, the United Kingdom, Portugal, Russia, Spain, Switzerland and Thailand.

The firm bills itself as the world’s leading producer of films for pharmaceutical, medical device, food, electronics and general-purpose thermoformed packaging. It also makes film for printing and specialty applications.

Klockner Pentaplast was founded in 1965 and was sold to financial investors Cinven LLP and JPMorgan Chase & Co. in 2001. Private equity firm Blackstone Group bought the firm for $1.8 billion in 2007.

Since 1997, Klockner Pentaplast has made 20 acquisitions, but financial challenges led to its credit rating being downgraded by credit rating agency Standard & Poor’s in 2011. That move led to SVP acquiring the firm last year for almost $1.3 billion in debt and equity.

 


Comments

Report: Klockner Pentaplast seeking a buyer

By Frank Esposito
Senior Staff Reporter

Published: August 14, 2013 4:17 pm ET
Updated: August 14, 2013 4:20 pm ET

Post Your Comments


Back to story


More stories

Image

Contigo, Avex buy lets Newell Rubbermaid leapfrog new bottle development

July 22, 2014 4:11 pm ET

Newell Rubbermaid Inc. is ready to accelerate its move into the reusable water bottle business with the purchase of two on-the-go drinkware brands.    More

Image

Beer maker Carlsberg enlists suppliers for 'upcycling' project

July 22, 2014 11:14 am ET

Carlsberg Breweries A/S in Denmark has started an ambitious project with its suppliers to optimize its packaging for the purpose of “upcycling....    More

Image

Global market for plastic containers to top 46 million metric tons by 2021

July 22, 2014 10:56 am ET

German research company Ceresana has released a study saying that it expects the global market for plastic containers to rise to 46.2 million metric...    More

Image

Newell Rubbermaid to acquire Contigo brand

July 21, 2014 5:00 pm ET

Consumer products company Newell Rubbermaid Inc. has signed an agreement to acquire Ignite Holdings LLC, owner of the Contigo and Avex brands of...    More

Image

Windmöller & Hölscher looking to continued growth in China

July 21, 2014 3:40 pm ET

With 2013 global sales of 600 million euros, China has grown into an important export market for Windmöller & Hölscher KG, second only to the United S...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events