By Andrei Skvarsky.
Moorgate Capital, a London-based financial advisory firm, has announced the completion of this year’s second “milestone” transaction it has been involved in, a deal in which one of its serial clients, a leading European producer of packaging, was sold to an investment company.
Clondalkin Flexible Packaging, a manufacturer of a wide range of flexible packaging products with turnover of about $365m operating in Britain, Germany, the Netherlands, Switzerland and the United States, was sold to private equity firm Egeria. Both companies are headquartered in Amsterdam.
In the previous of two 2016 transactions that Moorgate’s head of packaging mergers and acquisitions (M&A), Nick Mockett, has described in a statement as “milestone” deals, British Polyethylene Industries (BPI), a key polyethylene film producer with turnover of about $610m and also a serial Moorgate client, was taken over by RPC Group, a British design and engineering company specialising in polymer conversion.
The deal was finished in August.
Both BPI, which has operations in Britain, Belgium, the Netherlands and North America, and RPC, whose business covers much of the globe, are listed on the London Stock exchange.
Moorgate is a corporate finance and M&A advisory company.