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Packaging maker Schur Flexibles has been taken over by a consortium of banks and funds including Apollo, Capital Four, Guggenheim and Palmer Square. The restructuring includes a debt haircut of up to 75 percent, about EUR 400 million, and EUR 150 million of fresh capital.
Schur Flexibles acquired Termoplast S.r.L., a producer of 100% recyclable MDO-PE films based at Gambassi Terme near Florence, Italy, to expand its presence in the Italian market.
Lindsay Goldberg agreed to sell an 80% stake in Austria-based Schur Flexibles Group to B&C Group, retaining 20% ownership, subject to antitrust approvals.
Schur Flexibles Group acquired Sidac SpA, a flexible packaging manufacturer based in Forlì near Bologna, to expand its presence in the Italian market. Sidac has about EUR 34 million in annual revenue and 120 employees; the deal value was not stated.
Berivo, an equipment leasing company set up by Chetwode and Acofi, provided a EUR 3.77 million sale-and-leaseback financing to flexible packaging maker UNI Packaging, now Schur Flexibles, to fund its European expansion. The contract was signed in July 2015.
Austrian flexible packaging group Schur Flexibles reached a general acquisition agreement with France's UNI Packaging, which has seven production sites in France, the UK and Austria.
Schur Flexibles Group acquired packaging firms Cats-Hansel and Nimax from Clondalkin, including plants in Rotterdam, Freital and Elst.
Schur Flexibles Group will acquire a majority of shares in Dutch packaging printer Drukkerij Zwart, expanding its portfolio to 13 companies with 13 production locations. Financial terms were not disclosed and the deal is subject to cartel authority approval.
