Dutch-based private equity firm Egeria (Amsterdam; www.egeria.nl) is to acquire Clondalkin Flexible Packaging (Amsterdam; www.clondalkingroup.com) from an affiliate of international private equity provider Warburg Pincus (www.warburgpincus.com), which acquired the business in March 2004 for a reported EUR 630m. Completion is expected in the final quarter of 2016.

Warburg sold Clondalkin’s Specialty Packaging division to UK-based equipment manufacturer Essentra (Milton Keynes; www.essentra.com) for USD 455m in 2015, leaving only the flexible packaging business on its books. It was reported at that time that a number of private equity companies were expressing interest in acquiring the flexible packaging business.

Clondalkin operates 11 manufacturing sites in The Netherlands, Germany, Switzerland, the UK and the US supplying over 45 countries globally with a turnover of around EUR 400m and around 1,600 employees.

Paddy Mullaney, Clondalkin CEO, said: “We are delighted to team up with Egeria for the next step of our development plan. Egeria’s experience in supporting businesses will further facilitate and strengthen Clondalkin’s continued development and expansion."