By Andrei Skvarsky.
Investment consultancy Moorgate Capital advised on a 160m-pound ($243m) buyout in the European {{{*}}} packaging products industry, Nicholas Mockett of the London-based advisory firm told EmergingMarkets.me.
The transaction involved the sale of Contego Healthcare, a European manufacturer of cartons, leaflets, labels and foils for pharmaceutical and healthcare companies, to Filtrona, a supplier of plastic, foam and fibre products.
Contego Healthcare last year generated revenue of 102.7m pounds ($155m) and EBITDA of 17.9m pounds ($27m). Filtrona is a FTSE 250 company valued at about 1bn pounds (1.52bn). Both companies have their headquarters in Britain.
Moorgate also advised on the sale of Contego Cartons, a European producer of cartons for food, spirits and other fast-moving consumer goods, to US packaging company Graphics Packaging. The deal was completed late in December.
“The predecessor firm to Contego, the London Stock Exchange listed MY Holdings PLC, was one of my first clients in the packaging industry and the relationship now spans over 18 years,” Mockett said.
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