NEW YORK, July 25, 2016 /PRNewswire/ -- Lindsay
Goldberg today announced that it has agreed to acquire the Schur
Flexibles Group ("Schur Flexibles" or "the Company"), a leading
manufacturer of flexible packaging products in Europe across a range of end markets including
meat & cheese, confectionary, pharmaceutical specialties and
tobacco. Financial terms of the transaction were not disclosed.
Headquartered in Baden, Austria, Schur Flexibles manufactures flexible
packaging which mostly consists of composite products made from
paper, plastic and aluminum. In 2015, the Company generated sales
of approximately €370 million, half of which were generated from
the food industry. The Company covers the entire value-added chain
in the packaging industry – from the procurement of raw materials
to extrusion, pressing, lamination and processing. Schur Flexibles
operates 11 production plants across Germany, Finland, Denmark, the
Netherlands, Poland,
Slovakia and Greece and employs approximately 1,100
employees.
Following the transaction, CEO and co-owner Jakob A. Mosser, who has led the Company over
the last five years, will continue to lead Schur Flexibles. "We aim
to drive organic growth and make accretive acquisitions. We have
already identified a number of target companies that could create
value for the portfolio," said Dr. Thomas
Ludwig, managing partner of Lindsay Goldberg's German
affiliate.
The acquisition of Schur Flexibles represents Lindsay Goldberg's
second investment in a European packaging company. In 2012, Lindsay
Goldberg invested in the Weener Group, working with management to
achieve significant growth. During Lindsay Goldberg's ownership
period, employee headcount increased from 1,200 to 2,000, sales
increased from €140 million to €270 million, and earnings achieved
similar performance.
Michael Dees, a Partner at
Lindsay Goldberg, added, "The acquisition of Schur Flexibles aligns
perfectly with Lindsay Goldberg's investment strategy in
Germany and other markets. We are
very excited to partner with and support the Schur management team
as it continues to pursue its successful growth strategy."
The transaction is subject to customary closing conditions and
is expected to close in the third quarter.
About Lindsay Goldberg
Lindsay Goldberg is a private investment firm with approximately
$13 billion of equity capital that
focuses on partnering with family-owned and entrepreneur-led
businesses seeking a partner to help actively build their
businesses. For more information about Lindsay Goldberg, please
visit www.lindsaygoldbergllc.com.
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SOURCE Lindsay Goldberg