Cinven and JP Morgan Partners have sold German manufacturer of rigid plastic films Klöckner Pentaplast to The Blackstone Group for EUR 1.3bn, representing an 8x multiple of pro-forma EBITDA. In 2001, Cinven and JPMorgan acquired Klöckner Pentaplast from WCM AG for an enterprise value of approximately EUR 925m.
UCL Technology Fund closed on £50m in January 2016 and is now fully deployed
All five lawyers have joined from Clifford Chance and will focus on mandates for private equity firms
Deal is part of a buy-and-build strategy pursued by the GP to strengthen Italcanditi's market position
Tavola already owns Frische und Service's Swiss market peer Ceposa, which it acquired in 2018