Klöckner Pentaplast

Activity
Plastics films manufacturer
Acquired
Dec 2001
Realised
Jul 2007
Sector
Industrials

Business
Acquired in December 2001 for €925 million from German parent Klöckner Werke, Klöckner Pentaplast is a leading European and US manufacturer of rigid plastic films. It manufactures films for the packaging of pharmaceutical and medical devices, foods and other products, as well as specialty applications, including plastic card products and furniture surfacing. The business operates from 14 facilities in eight countries, primarily Germany, the US, the Netherlands and Switzerland.

Strategy
The core of Cinven’s strategy was to expand into new markets through organic growth and strategic acquisitions, particularly in Asia and South America, and to push forward the extension of Klöckner Pentaplast’s product range. Additionally, Cinven worked with management to refocus and rationalise the European footprint. Cinven implemented a plan reorganising management to create a single global team.

Outcome
Klöckner Pentaplast was sold in 2007, securing a multiple of 2.2x our investment.