Ardian finances Sagard’s acquisition of Ipackchem

It marks the 100th transaction completed by the Ardian Private Debt subsidiary.

The debt facility provided by Ardian is primarily intended to finance Ipackchem's future add-on acquisitions.

Upon Céréa's investment in 2014, the company generated revenues of €60m. According to an Ardian release, the company's revenues remain unchanged.

Since Céréa led the company’s spinout from Chesapeake in 2014, the group has expanded into South Africa through the acquisition of a local business, and more recently in Brazil where it opened a greenfield facility.

Sagard's acquisition of Ipackchem gives its management team, which remains invested in the group, the resources to pursue further international development through both organic growth and acquisitions of new groups and manufacturing plants, the GP said in a statement. 
 
Previous funding
In January 2014, Céréa backed the carve-out of what was then Spec Chem Packaging from the British business Chesapeake. Chesapeake itself had recently been sold by backers Oaktree Capital and Irving Place Capital in a separate deal to the Carlye Group.  

According to unquote" data, the deal saw Céréa take a majority stake in the group for a value estimated between €25-50m.

Company
Founded in 1987 by Jean-Philippe Morvan as part of the Air Products group, Ipackchem is a manufacturer of rigid plastic packaging products intended for the specialty chemicals industries and for products such as flavours, fragrances and agrochemicals.

The group is active in three continents and manages five production sites in France, the UK, Hungary, South Africa and Brazil. Ipackchem currently employs around 350 people and reports sales of €60m.

People
Sagard – Antoine Ernoult-Dairaine, Saïk Paugam (partners). Ipackchem – Jean-Philippe Morvan (CEO).
Ardian – Guillaume Chinardet (head private debt France).

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• Topics
• Exits
• Buyouts
• France
• Industrials
• France
• Ardian (formerly Axa PE)
• Sagard Private Equity
• Secondary buyout