The stake has been bought by co-investor Next Wave Partners. Neither party revealed the terms of the deal.
Stephen Walls, Partner at Next Wave Partners and Chairman of Petainer said: ‘WHEB has been an excellent partner in the Petainer story and we look forward to investing alongside their private equity team again in the future.’
WHEB exited its stake in waste management technology specialist Advanced Manufacturer Control Systems in February.
That sale also saw the company more than double its money, according to sources familiar with the deal.
Recently the Sunday Times reported that WHEB had raised €100m to date for its third and largest investment fund, with a €40m cornerstone from the European Investment Bank, alongside Hermes GPE and F&C. The firm is aiming to reach its €250m target by the end of the year, the report added.
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