Secondary Buyout • Packaging

Warburg Pincus Acquires Clondalkin

On February 1, 2004, private equity firm Warburg Pincus acquired packaging company Clondalkin from Candover Investments for 630M USD

Acquisition Context
  • This is Warburg Pincus’ 1st transaction in the Packaging sector.
  • This is Warburg Pincus’ 25th largest (disclosed) transaction.
  • This is Warburg Pincus’ 1st transaction in the Netherlands.
Investment Fate
  • Clondalkin was sold to a consortium of financial buyers in 2016.

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M&A Deal Summary

Date February 1, 2004
Target Clondalkin
Sector Packaging
Buyer(s) Warburg Pincus
Sellers(s) Candover Investments
Deal Type Secondary Buyout
Deal Value 630M USD

Target Company

Clondalkin

Amsterdam, Netherlands
Clondalkin is an international producer of high value added packaging products and services, with over 35 production locations in eight countries throughout Europe and North America. Clondalkin is based in Amsterdam, Netherlands.
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Buyer Overview 1

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


Deal Context for Buyer #
Overall 60 of 493
Sector: Packaging 1 of 3
Type: Secondary Buyout 2 of 70
Country: Netherlands 1 of 7
Year: 2004 1 of 11
Size (of disclosed) 25 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-3 RBMH Broadcast Media Holdings

Moscow, Russia

RBMH owns four Russian FM radio stations located in Moscow ('Radio 7' and 'Kuranty') and St. Petersburg ('Kanal Melodia' and Eldoradio'). In addition to their local presence in Moscow and St. Petersburg, respectively, Radio 7 and Kanal Melodia are broadcast in urban markets across Russia through a network of affiliates.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-11 Kosmos

Dallas, Texas, United States

Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. Kosmos was founded in 2003 and is based in Dallas, Texas.

Buy -

Seller Profile 1

SELLER

Candover Investments

London, United Kingdom

Category Private Equity Firm
Founded 1980
PE ASSETS 8.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Candover Investments is a private equity firm that targets investments in European and Asian companies operating in broad range of industries. Candover's primary focus is on businesses located in Western Europe; including the UK, France, Germany, Italy, Scandinavia, and Spain. However, the Firm also considers opportunities in Asia and Eastern Europe. The Firm's target investment size is €150 to €500 million in businesses valued between €500 million and €5 billion. Sectors of interest include media, financial services, support services, leisure, healthcare, technology, and industrial. Candover Investments was formed in 1980 and is based in London.


Deal Context for Seller #
Overall 2 of 26
Sector: Packaging 1 of 2
Type: Secondary Buyout 1 of 12
Country: Netherlands 1 of 2
Year: 2004 1 of 2
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-03 Aspen

Hamilton, Bermuda

Aspen is a provider of reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom, and the United States. Aspen was founded in 2002 and is based in Hamilton, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-14 Inveresk Research International

Tranent, United Kingdom

Inveresk Research International Ltd. provides clinical research management services to healthcare and pharmaceutical industries.

Sell -