Riverside adds Be Green Packaging to portfolio


news_recycle2_lrgPrivate equity firm The Riverside Company has bought Be Green Packaging, which uses compostable and recyclable materials to make environmentally friendly packaging.

Be Green Packaging’s products range from simple plates to complex packaging for consumer electronics.

Riverside said it plans to accelerate the company’s growth by investing heavily in US manufacturing, improving sales and marketing and continuing to invest in research and development.

Riverside Partner Joe Lee said, “This is a high-growth industry, and Be Green Packaging has the tools and dynamic capabilities to enjoy the long-term trend toward sustainable packaging.

“The company already serves a variety of blue-chip customers in numerous verticals, and has shown an ability to innovate while providing savings for its customers.”

Last month Riverside held a $1.5bn final close for its latest fund, exceeding its initial target by 50 per cent.

In August last year AltAssets reported that Riverside held a $1.48bn third close in July.

The previous fund had achieved strong returns with the first four exits generating an IRR of 33 per cent, a source with knowledge of the matter told AltAssets.

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