PACCOR (COVERIS GLOBAL RIGID)
Acquired by
LINDSAY GOLDBERG
PACCOR (COVERIS GLOBAL RIGID) acquired by LINDSAY GOLDBERG
Target
PACCOR (COVERIS GLOBAL RIGID)
Acquirer
LINDSAY GOLDBERG
Context
Lindsay Goldberg has acquired the "Global Rigid" division of Coveris Holdings S.A. Coveris, owned by Sun Capital Partners, sold this division as part of a broader deleveraging strategy (simultaneously selling its Americas division). The Rigid business will be separated from the Flexible business and operate as a standalone entity (later rebranded PACCOR). The deal followed a competitive auction where Ardian and Triton were underbidders.
PACCOR (COVERIS GLOBAL RIGID), which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.5x average currently observed in the Industry & Manufacturing sector.
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Target
Headquartered in Zell, Germany, Coveris Global Rigid is a leading European manufacturer of rigid packaging solutions for the consumer goods and food service sectors. The company produces plastic and paper cups, containers, lids, and trays (e.g., for yogurt, cream cheese, coffee).
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with PACCOR (COVERIS GLOBAL RIGID)
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