Investcorp to complete sale of Berlin Packaging for $1.43 billion

432Investcorp, a global provider and manager of alternative investment products, announced today that it remains on track to complete the previously announced sale of Berlin Packaging, a leading supplier of rigid packaging products and services in North America, to Oak Hill Capital Partners. The transaction is valued at $1.43 billion and is expected close during the first week of October.

Founded in 1898, Berlin Packaging is the leading full-service Hybrid Packaging Supplier of plastic, glass, and metal containers and closures in North America. The Company serves over 7,500 core customers with more than 90 sales offices and warehouse locations across North America.

Investcorp acquired a majority stake in Berlin Packaging in 2007 and since then the company has delivered strong revenue and profit growth, under the leadership of Andrew Berlin, Chairman and CEO, despite broad economic downturn. During its period of ownership, Investcorp supported Berlin Packaging’s robust organic growth with several strategic add-on acquisitions that included All-Pak and Continental Packaging Solutions in 2010 as well as Lerman Container and United States Container Corporation in 2012. These acquisitions strengthened the Company’s reach and operational capabilities.

Commenting on the transaction, Yasser Bajsair, Managing Director at Investcorp in the Kingdom of Saudi Arabia said, “Our exit from Berlin Packaging is another example of how the Investcorp team continues to identify and create value around the world for our investors in Saudi Arabia. Corporate investments are a key strategy for Saudi investors allocating to alternative investments and we are seeing increasing interest as the global economy stabilizes and asset values adjust. We continue to work closely with our clients across the Kingdom to ensure our investment strategies are fully aligned to their exact investment needs as we seek to deliver optimal returns from our targeted acquisitions.”

Andrew Berlin, Chairman and CEO of Berlin Packaging commented, “We have enjoyed our partnership with Investcorp and greatly appreciate their support over the last seven years. Investcorp’s resources and expertise have been invaluable to our business and I will always be grateful for their contributions, as well as their investors, for their commitment and friendship.”

Following the closing of the transaction, Andrew Berlin and the entire management team will continue in their current roles and Berlin Packaging will continue to serve as a one-stop-shop for all of its customers’ packaging needs.

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