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Schur, All4Labels go on the block: Reuters
Posted on Thursday, 11 July 2019 13:48
Schur Flexibles and All4Labels have both been put up for sale in separate auctions, people with knowledge of the matter told Reuters. The sources said Lindsay Goldberg is offloading Vienna-headquartered flexible packaging products firm Schur Flexibles and hopes to raise between EUR 800.00 million and EUR 900.00 million in the process. However, they cautioned that some prospective suitors are hoping this will be closer to EUR 600.00 million to EUR 700.00 million. Reuters’ sources added that German adhesive labels and packaging products maker All4Labels is on the lookout for a buyer and a transaction could bring in between EUR 700.00 million and EUR 800.00 million. The people stated that the latter’s auction is currently in the second round and PAI Partners, Triton, Advent International and Platinum are among those to have thrown their hats into the ring, adding that only those with bids of over EUR 700.00 million progressed through the first round. Goldman Sachs is advising on both deals, according to the sources. None of the parties involved have commented on the report. Schur Flexibles has been owned by Lindsay Goldberg since October 2016, when the latter paid an undisclosed sum to pick up the business from capiton, Schur International, Jakob Mosser and members of the management team. Since then, the company has announced a number of acquisitions, the most recent of which, according to Zephyr, the M&A database published by Bureau van Dijk, closed in April 2018, when it bought French peer Uni packaging. It previously agreed to buy Cats Flexible Packaging, Hansel Flexible Packaging and Nimax from Clondalkin Group Holdings in February 2018. All4Labels completed a purchase of its own in July 2018, when it acquired Italian labels and adhesive maker Nuceria Adesivi. No financial details of the deal were disclosed. © Zephus Ltd