News
Sale of Obrist Americas to Closure Systems International
Pöyry Capital has closed a transaction where we acted as financial advisor for both parties.
Global Closure Systems, owned by the French private equity group, PAI Partners, has sold its US beverage closure business, Obrist Americas, to Closure Systems International, owned by one of New Zealand’s leading private companies, Rank Limited.
Obrist Americas is a leader in the US market for screw-on and tamper evident plastic closures for carbonated and non-carbonated beverages. The company has two manufacturing plants in the US, one in Sandston, Virginia and the second in Salt Lake City, Utah.
In an unusual role, Asim Mullick at Pöyry Capital, supported by David Wiens and Alexander Bottenheim, was hired by both the seller and buyer to facilitate and advise on the transaction, having acted as financial adviser to both parties before on different transaction.
Rexam sells Petainer
Rexam has sold Petainer, its European PET bottle and keg manufacturing subsidiary, to Next Wave Ventures and WHEB Ventures, a UK growth capital firm and clean technology venture capital firm respectively. The consideration consists of £16 million paid in cash.
Headquartered in Lidköping, Sweden, Petainer is the market leader in Germany for reusable bottles and in the Nordic region for PET beverage containers. The company has a second plant in As, Czech Republic and has a workforce of approximately 300 employees in total. Supported by Next Wave Ventures, the company will pursue further growth by continued refillable bottle market share gains and by expanding sales of one-way bottles (and pre-forms) for growth markets. Petainer also aims to drive future growth through its innovative PET keg, an environmentally friendly alternative for steel beer kegs and other beverage distribution.
The divestiture completed Rexam's objective of divesting of businesses in sectors in which it does not have a global footprint. Pöyry Capital acted as Exclusive Financial Advisor to Rexam in this transaction. The business had been for sale for the last couple of years and Pöyry Capital was hired in March 2009 to assist with finding a suitable buyer.
New Packaging Director for Poyry Capital
We are pleased to announce the arrival of Asim Mullick to lead our packaging sector initiative and assist with our coverage of Private Equity clients. Asim joins from Credit Suisse in London where he spent the last 12 years and led Credit Suisse’s European Paper & Packaging franchise. During his career Asim has worked with many major packaging companies and private equity houses in Europe and North America including Rexam, Gerresheimer, Ardagh, Pactiv, Rank Group, SCA, International Paper, Glatfelter, Blackstone, PAI, Doughty Hanson, Candover, Cinven and CVC. Previously he worked with BZW Corporate Finance and KPMG where he qualified as an accountant. Asim also holds a BSc (Joint Hons) from Kings College London.
Asim’s experience complements Pöyry Capital’s in depth knowledge and expertise in the Forest Industry, for which it has the largest dedicated advisory team in Europe. Asim will also work closely with Pöyry Group in its provision of services to the packaging sector.
Pöyry Capital provides independent advice free of conflicts. We believe that this advice, built upon years of experience and unparalleled sector coverage across Europe will be important to our packaging clients as they develop their strategy to meet the opportunities and challenges in the industry.
Poyry Capital announces the creation of a pan-European Energy & Utilities investment banking team
Poyry Capital announces the creation of a pan-European Energy & Utilities investment banking team which will be led by Tom Blake. Tom joins from AdviCorp, an investment banking boutique. Previously he worked with PFC Energy and spent 18 years at Dresdner Kleinwort Benson. During his long career Tom has worked with many energy and utility clients, including Enel, Endesa, Centrica, National Grid, Suez, Iberdrola, Repsol and ENI. While at Kleinwort, he led the team which advised on the privatisation of Enel in 1999, the largest European IPO.
Founded 10 years ago, Pöyry Capital has the largest advisory team in Europe dedicated to the Forestry Products Industry. It comprises senior professionals with years of experience in the sector who provide high level advice to clients throughout Europe. It has worked on many of the landmark deals in the sector in recent years.
This initiative is a natural development for Pöyry Capital because Energy represents an increasingly important area of focus for Forestry companies. Many have extensive power generation interests and all are looking to take advantage of opportunities in renewable generation (notably from biomass) and clean technology.
Poyry Capital is a member of the Pöyry Group which provides consulting and engineering services around the world to the Forestry Products, Energy and Infrastructure sectors. Pöyry Energy Consulting is one of the leading energy specialists in Europe with 250 staff in 14 countries.
Bengt Hammar, CEO of Pöyry Capital, said: “We are delighted that Tom Blake will be joining us and leading this exciting initiative. The energy sector is evolving rapidly and we believe that Pöyry Capital, by offering in-depth sector expertise and experience, is well positioned to help clients meet the challenges of the industry.”
Pöyry Capital has moved
Our new office is located at 5-6 Cork Street, London W1S 3NX.