By Andrei Skvarsky.
Global alternative asset manager The Carlyle Group has announced it has bought Chesapeake, one of the world’s largest manufacturers of paper-based packaging, from two US-based companies, private equity firm Irving Place Capital and asset manager Oaktree Capital Management.
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Credit Suisse, Goldman Sachs, UBS and Barclays financed the transaction, Nicholas Mockett, head of packaging industry mergers and acquisitions at London-headquartered investment consultancy Moorgate Capital, told EmergingMarkets.me.
Chesapeake, which is headquartered in Nottingham, UK, makes paper-based leaflets, labels and cartons, primarily for the pharmaceutical, confectionery and premium drinks markets. It mainly has a blue-chip clientele.
The company, which has nearly 5,000 employees in nine countries, has grown significantly in recent years and posted revenues of 580m euros in 2012.
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