Lindsay Goldberg has agreed to acquire Schur Flexibles Group, a manufacturer of flexible packaging products.
Schur Flexibles Group manufactures packaging – using paper, plastic and aluminum – that is used in the meat and cheese; confectionary; pharmaceutical specialties; and tobacco sectors. In 2015, the company had revenues of approximately €370 million ($406 million), half of which were generated from the food industry. Schur operates 11 production plants across Germany, Finland, Denmark, the Netherlands, Poland, Slovakia and Greece and employs approximately 1,100 employees. Following the transaction, CEO and co-owner Jakob Mosser, who has led the company over the last five years, will continue to lead Schur Flexibles. The company is headquartered south of Vienna in Baden, Austria (www.schurflexibles.com).
“Our goal with Schur is to drive organic growth and make accretive acquisitions and we have already identified a number of target companies that could create value for the portfolio,” said Dr. Thomas Ludwig, managing partner of Lindsay Goldberg’s German affiliate.
The acquisition of Schur represents Lindsay Goldberg’s second investment in a European packaging company. In 2012, the firm invested in the Weener Group. During Lindsay Goldberg’s ownership of Weener, employee headcount increased from 1,200 to 2,000, sales increased from €140 million to €270 million and earnings nearly doubled as well. Lindsay Goldberg sold the Weener Group to London-based private equity firm 3i in June 2015.
“The acquisition of Schur Flexibles aligns perfectly with Lindsay Goldberg’s investment strategy in Germany and other markets. We are very excited to partner with and support the Schur management team as it continues to pursue its successful growth strategy,” said Michael Dees, a Partner at Lindsay Goldberg.
Lindsay Goldberg manages $13 billion of equity capital and is focused on partnering with family-owned and entrepreneur‐led businesses seeking a partner to help actively build their businesses. The firm is based in New York (www.lindsaygoldbergllc.com).
© 2016 Private Equity Professional • 7-26-16
