OEP's Constantia Flexibles confirms IPO

Deutsche Bank, Goldman Sachs and JP Morgan have been appointed as joint global coordinators and bookrunners for the IPO. Earlier reports valued a potential flotation at up to €2bn.

Listing on the stock market is part of the company's global expansion strategy, which saw Constantia recently acquire fellow packaging producers Globalpack, Spear and Parikh Packaging.

OEP was rumoured to be considering divesting the Austrian firm in mid-October, with an IPO said to be the preferred option.

In 2009, OEP acquired a 65.79% stake in Constantia, which was then listed on the Vienna stock exchange, from the Herbert-Turnauer Foundation for €429m, while offering to take over shares from remaining investors for €39 per share.

Constantia reported revenues of €1.3bn and an EBITDA of €187.6m in 2012. The business produces packaging and labels for the food, drinks and pharma sectors. The firm employs more than 8,000 staff while serving more than 3,000 clients worldwide.

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• Topics
• DACH
• Exits
• Industrials
• One Equity Partners
• IPO
• Austria