Private-equity firm Oak Hill Capital Partners has entered into a definitive agreement to acquire Berlin Packaging LLC, a supplier of rigid packaging products and services in North America, from Investcorp. Oak Hill is investing in partnership with Berlin’s current management team, led by Chairman and CEO Andrew Berlin. The transaction is valued at $1.43 billion.
Says Tyler Wolfram, Managing Partner at Oak Hill, “Berlin Packaging is a high-caliber business experiencing double-digit growth and targeting a large addressable market opportunity. We are excited to partner with Andrew Berlin and his talented team to support the company through its next phase of growth, as the company expands organically and through strategic acquisitions. The transaction is representative of Oak Hill’s theme-based investment approach and long history of partnering with world-class entrepreneurs and management teams.”
Comments Andrew Berlin, “We are extremely pleased to be partnering with Oak Hill. Oak Hill has a longstanding history of building superior businesses and a reputation for strong partnership with management. It was important to join with a firm that shares the same culture and belief system as Berlin Packaging and that is committed to growing our company by offering increased value to our customers, suppliers, and employees. I know Oak Hill will be a tremendous partner for us. We would also like to thank Investcorp for their partnership over the last seven years.”
The transaction, which is subject to HSR approval and other customary closing conditions, is expected to close in the third quarter of 2014.
