Kloeckner Pentaplast: Sold to Blackstone Group

Klöckner Pentaplast has been sold by its owner Cinven to another private equity firm, Blackstone Group, for €1.3bn. Managing director of the Blackstone Group, Lionel Assant, said: “The group’s high-quality films, superior technical expertise and support, and its global manufacturing platform have earned its position as a recognised industry leader. We will continue to support Klöckner Pentaplast’s aggressive growth and investment strategy.” Klöckner Pentaplast was acquired by Cinven and its minority partner, JPMorgan Partners, in 2001. Cinven said investments and its strategy since then had increased sales from €833m to more than €1.2bn, and employee numbers had grown from 3,100 to more than 3,400. Chief executive of Klöckner Pentaplast, Thomas Goeke, said: “We look forward to working with our new owners in taking the business forward.”

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