Egeria’s Clondalkin Group sells Cats-Haensel and Nimax to trade

Egeria wholly acquired Clondalkin Flexible Packaging Group from Warburg Pincus In September 2016. The company was acquired for €200m. According to Unquote Data, Egeria Private Equity Fund I was used for the transaction. 

Founded in 1936 and headquartered in Amsterdam, Clondalkin is a manufacturer of packaging products for the pharmaceutical, healthcare, industrial, agricultural, horticultural, consumer goods, food and beverages sectors. The group generates a turnover of approximately €350m.

Schur Flexibles Group, headquartered in Baden, Austria, is a packaging provider for the food, tobacco and pharmaceutical industries. With the acquisition of Cats-Haensel and Nimax, Schur Flexibles’ turnover is expected to grow to around €400m in 2018.

German GP Capiton followed a buy-and-build strategy for Schur, having acquired the first company of the group, CFS Dixie, in December 2011. The nucleus of the group was then purchased in early 2012 with the takeover of the Schur Flexibles Division, consisting of four companies, from Schur International in Denmark. Five further businesses were acquired before the end of 2014. Also in 2014, PS Polymer Sourcing was founded as an additional separate business unit. Capiton then sold Schur to American private equity house Lindsay Goldberg In July 1016.

Company
Cats-Haensel is a provider of paper- and film-based flexible packaging, including tea tags and tea envelopes and tobacco inlays. Headquartered in Rotterdam, it also operates production sites in Elst in the Netherlands and Freital in Germany. In 2017, the company generated turnover of around €30m. Cats-Haensel employs 135 staff.

Advisers
vendor- MP Corporate Finance (corporate finance).

People
Egeria - Floris Waage (partner).
Clondalkin Group - Anthonie Zoomers (CEO).

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