Twitter LinkedIn
    Saturday, February 4
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Private Equity»Packaging Maker CNG’s Owners Are Said to Weigh $4 Billion Sale
    Private Equity

    Packaging Maker CNG’s Owners Are Said to Weigh $4 Billion Sale

    January 21, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    The private equity owners of Charter Next Generation are considering a sale that could value the packaging company at more than $4 billion, according to people with knowledge of the matter.

    CNG’s backers, Leonard Green & Partners and Oak Hill Capital Partners, are working with an adviser to explore strategic options for the company, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The Milton, Wisconsin-based company generated about $300 million in earnings before interest, taxes, depreciation and amortization last year, the people said.

    The private equity owners could change their plans and decide against pursuing a sale of CNG, the people said.

    A spokesperson for Oak Hill declined to comment. Representatives for CNG and Leonard Green didn’t respond to requests for comment.

    Packaging companies have proved to be resilient assets during the coronavirus pandemic as consumers increasingly look to receive goods via delivery rather than shopping in person. Several companies in the sector are expected to trade hands this year, including Advent International-backed label maker Fort Dearborn and Crown Holdings Co.’s food can unit, people familiar with those matters have said.

    Leonard Green first invested in Charter NEX Films in 2017, buying the company from Pamplona Capital Management. Leonard Green and Oak Hill agreed in 2019 to merge the company with Next Generation Films, founded by Dave Frecka. The combined company makes specialty films for food packaging, automobiles and manufactured housing, according to its website.

    Source: Bloomberg

    Image Source

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    2021 deals and transactions investment Investments PE Insider Private Equity sales
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Carlyle targeting $1.6B for second renewables fund

    November 18, 2022

    Comments are closed.

    Other Articles

    Bitcoin miner Cipher to go public via $2 billion SPAC merger

    March 7, 2021

    Analysis-Supply squeeze won’t ease on global stocks and bonds in 2021

    December 30, 2020

    Ares Management Corporation Expands into European Real Estate Debt

    January 28, 2022

    Warburg Pincus invests in NetDocuments

    May 25, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?