The firm acquired Exopack in 2005, and is looking to combine the flexible plastic packaging company with its portfolio companies Britton, Kobusch, Paccar and Paragon.
The new company, Exopack Holdings Sarl, will have combined revenuies of close to €2.5bn. Supported by cost savings provided by the merger, the company should have an EBITDA of $319m, up from a combined $255m in 2012.
Former CEO of Exopack and previous Sun Capital managing director Jack Knott will head up the newly created company.
“This combination represents a natural next step in a process that began eight years ago to create a global packaging company with a solid foundation for future growth,” said Marc Leder, co-CEO of Sun Capital Partners. “Building on past collaborations between the companies, the combination will immediately achieve synergies and allow the combined company to more effectively pursue global business.”
“By joining together to form this new entity, we will be better able to serve the needs of our global customers through a manufacturing base spanning North America, Europe, the Middle East and China that enhances our ability to deliver outstanding service,” added Knott. “The larger scale will enable us to accelerate the development and commercialization of new and differentiated products that offer our customers a competitive advantage.”
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