IK takes majority stake in Pinard Emballages

Pinard Emballages, a French producer of plastic bottles, was previously owned by the Pinard family. Managers Thomas and Pierre-Olivier Pinard will retain their positions and are investing alongside IK, keeping a minority stake.

The deal is the fifth closed by the GP with its eighth mid-market buyout fund, IK VIII, closed on its €1.85bn hard-cap in November 2016. The vehicle targets deals with enterprise values in the €100-500m range across the France, Benelux, DACH and Nordic regions.

Previous investments with the vehicle include the MBO of Danish temperature-monitoring products maker Ellab, Hamburg-based pharma business ZytoService, German kitchen sink maker Schock – all completed in 2016 – and the acquisition of France-based elderly care specialist Colisée earlier this year.

With IK, Pinard Emballages plans to boost its organic growth in France and in export markets, and could also complete a few targeted acquisitions across Europe. 

Company
Founded in 1970 and based in Martignat, Pinard Emballages specialises in the design, development and manufacturing of plastic bottles for the cosmetics, fragrance and personal care markets. Managed by brothers Thomas and Pierre-Olivier Pinard, the business employs 90 people and owns two production facilities near Oyonnax and a logistics site.

People
IK Investment Partners – Dan Soudry (partner).
Pinard Emballages – Thomas Pinard, Pierre-Olivier Pinard (CEOs).

Advisers
Equity – AT Kearney (commercial due diligence); Eight Advisory (corporate finance); Goodwin Procter (legal).
Vendor – ATFIS (corporate finance); HPML (legal).

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• Topics
• Buyouts
• Industrials
• France
• IK Investment Partners
• France