Reports: SVP seeking a buyer for Klöckner Pentaplast

By Michael Lauzon
Correspondent

Published: May 29, 2014 3:02 pm ET
Updated: May 29, 2014 4:38 pm ET

Related to this story

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

Plastic film maker Klöckner Pentaplast Group would not confirm recent reports that the company is for sale after an earlier attempt to sell the business was unsuccessful.

News agencies Reuters and Bloomberg reported May 28 that unnamed sources told them that Klöckner majority owner Strategic Value Partners’ advisors Goldman Sachs Inc. and Jefferies Group will start sending out information on the film company in June and that tentative bids are expected in July.

Klöckner spokeswoman Astrid Hoffmann-Leist stated in an email that the company has been the subject of rumors for years since it has been owned by financial investors. She said she could not comment on the potential sale reports.

The reports indicated a sale could value the German film company at about 1.5 billion billion euros ($2.04 billion). SVP tried to sell it in autumn 2013 but the asking price was not met. Greenwich, Conn.-based hedge fund SVP acquired the company in summer 2012 from New York private equity firm Blackstone Group LP. Blackstone had acquired Klöckner Pentaplast in 2007 from Cinven Partners LLP of London.

Klöckner’s key markets are pharmaceutical, medical, food, beverage and cards. Its head office is in Montabaur, Germany, and its North American headquarters is in Gordonsville, Va.

Hoffmann-Leist said her company “continues to execute its strategy of generating sustainable and considerable profitable growth.”

For its fiscal year 2012-13 ended Sept. 30, Klöckner logged net sales of 1.19 billion euros, up about 2 percent from the previous year. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was 174 million euros, up 14 percent from 2011-12. The company employs 3,100.

Last summer Klöckner revealed it is spending 45.6 million euros in global capacity expansions in 2013-14. Targeted sites are in China, Brazil, Great Britain and Portugal.

Klöckner opened its first production site in China in summer of 2013 in Suzhou. It is producing shrink films for double-digit growing markets in Asia. The company has invested 22.5 million euros in the operation, which employs about 76.

In mid-May 2014 Klöckner announced changes to its executive management board. Joining CEO Christian Holtmann and CFO Markus Hoelzl are Stefan Brandt in the newly created chief operating officer post and Marc Setzen as chief technology officer.


Comments

Reports: SVP seeking a buyer for Klöckner Pentaplast

By Michael Lauzon
Correspondent

Published: May 29, 2014 3:02 pm ET
Updated: May 29, 2014 4:38 pm ET

Post Your Comments


Back to story


More stories

Image

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will...    More

Image

Report predicts growth for flexible packaging

August 21, 2014 12:34 pm ET

Flexible packaging in the United States grew last year and is expected to continue to grow this year, according to a new report by the Flexible...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

German firms combine hybrid part expertise

August 21, 2014 11:18 am ET

L. Possehl & Co.'s acquisition of TPS Technical Plastic Systems GmbH will bring together companies which specialize in the manufacture of hybrid plast...    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