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One Equity Partners (OEP) sells Constantia Flexibles to Wendel

January 20, 2015

Company and new owner aim to continue profitable growth

• Leading group for flexible packaging and labels has grown into a global player

• Significant sales and earnings (EBITDA) increase since acquisition by OEP in 2009

• Enterprise value of € 2.3 billion

• Company and new owner aim to continue profitable growth

Funds advised by One Equity Partners (“OEP”) and the H. Turnauer Foundation have agreed to sell their 100 percent stakeholding in Constantia Flexibles to the Wendel Group, one of Europe's leading listed investment firms. Wendel’s offer values the group at around € 2.3 billion (enterprise value). Austrian Constantia Flexibles is one of the world’s leading manufacturers of flexible packaging products and labels. OEP acquired the company in 2009, when it took over the majority of Constantia Packaging AG, and holds 75 percent of Constantia Flexibles. 25 percent belong to the H. Turnauer Foundation.

“We are very happy with the way that Constantia Flexibles has developed over the last five years under the ownership of OEP. Thomas Unger and the management team, along with all the employees of Constantia Flexibles, have done an excellent job. On behalf of OEP, I would like to say thank you for the outstanding cooperation,” said Melchior von Peter, Managing Director at OEP.

Constantia Flexibles supplies its products to numerous multinational companies and local market leaders in the food, pet food, pharmaceuticals and beverage industries. Constantia Flexibles employs over 8,000 people in almost 80 Group companies and delivers to over 3,000 customers worldwide. In 2013, the company achieved sales of EUR 1.63 billion and earnings (EBITDA) of EUR 233 million. Since OEP’s investment, sales have grown by 73 percent and earnings (EBITDA) by 76 percent.

Thomas Unger, CEO of Constantia Flexibles: “In recent years, Constantia Flexibles has developed from a regionally-focused provider in Europe into a globally-active group present in the most attractive and fastest growing markets for flexible packaging. We have positioned the company outstandingly for further profitable growth, and we will be working with our new owner to realize this potential in the future.”

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