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 Mergers & Acquisitions, Packaging, Calendering, Extrusion, Film & Sheet
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

Obituary: Frank Nissel, Welex Inc. co-founder

August 28, 2014 1:01 pm ET

Friends, family and business acquaintances will remember Nissel as an urbane, outgoing machinery executive, an expert on extrusion, a globalist who...    More

Image

Pregis, Sealed Air settle film-foam patent dispute out of court

August 28, 2014 1:01 pm ET

A couple of packaging companies are settling their patent fight over film-foam underlayment.    More

Image

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it...    More

Image

Megadyne buying Belt Corp. of America

August 26, 2014 10:35 am ET

In a move aimed at building its specialty belting manufacturing and fabrication operations, Jason Industrial Inc. — Megadyne SpA's wholly owned ...    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

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

More Events