OEP's Constantia Flexibles to float

The US private equity house is looking to divest the firm via a listing on the Frankfurt stock exchange – the preferred option – or a trade sale, according to Reuters. 

OEP originally acquired a 91.5% stake in Vienna-listed Constantia in October 2009. The business was then delisted and the remaining shareholders squeezed out a year later.

At the time of the takeover, Constantia operated under the name of Constantia Packaging and was composed of the three companies AMAG Holding, Duropack and Constantia Flexibles. AMAG and Duropack were divested in 2011 and Constantia Packaging renamed Constantia Flexibles.

The firm employs more than 8,000 staff across 50 international offices. It manufactures packaging for clients in the food, drinks and pharmaceuticals industry.

Constantia made three bolt-on acquisitions in 2013 alone: Globalpack (Mexico), Spear (US) and Parikh Packaging (India).

The company reported a revenue of around €1.3bn and EBITDA of €187.6m in 2012.

OEP and Constantia were unavailable for comment.

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