Private equity firm ends four-year investment in packaging company
Private equity firm 21 Centrale Partners has announced the sale of French cosmetics packaging supplier Nord-Est, for an undisclosed sum.
Over 21’s four-year investment tenure, which began when it took Nord-Est private in 2007, sales have grown 25% to €325m, while EBITDA increased twofold. In addition the group accelerated its international development entering new high growth markets, most recently Brazil.
“Nord-Est is a prime example of 21’s vocation to create a bridge between industry and finance: executing a complex transaction, repositioning the company and redeploying business internationally,” said Gérard Pluvinet, founding managing partner of 21 Centrale Partners.
Edouard Silvy, chairman of the Nord-Est group, added: “The support of 21 Centrale Partners was instrumental in taking Nord-Est to the next level of industrial development.”