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Investindustrial wraps up second fund with Contenur exit

28 Jun 2012

Investindustrial has sold Contenur, a Spanish maker of plastic urban dustbins, to Miura Private Equity and Demeter Partners of France, in a deal that will seal the investment programme of the Italian private equity firm’s 2000 vintage fund.

The transaction marks Investindustrial’s seventeenth exit in the last two years, which brought in a total of €1.1bn in sale proceeds. Financial terms of the deal were not disclosed.

Investindustrial bought a 65 per cent stake in Contenur for €32m through its €323m Investindustrial II vehicle.

The firm bought the stake from 3i, which acquired a majority interest in the company in 1998 for €18.23m.

Founded in 1985 and based in Madrid, Contenur makes dustbins and operates related maintenance services in Europe.

The business, which has recently established a presence in Eastern Europe and opened a factory in Poland, posted a €75m turnover last year, up from €58m in 2004.

Contenur has employed a further 150 members of staff under Investindustrial’s ownership, bringing total staff numbers to 538.

The sale will help appease investors as Investindustrial raises its latest buyout fund.

Reports in March confirmed the firm has raised more than half of its €1.25bn target less than two months after launching the vehicle, as other European private equity firms struggle to get their fundraising efforts off the ground.

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