The sale is subject to approval by anti-trust authorities and the Klockner-Werke supervisory board and shareholders.
“Klockner Pentaplast has a strong international market position and performance,” says Peter Gangsted, chairman of Cinven’s management board in Germany. “The company can profit from the strategic possibilities of our strong financial background. We are looking to support the company in future developments.”
The management of the Klockner Pentaplast group will remain in place and continue to pursue their aggressive growth and investment strategy. “Cinven will support the companies’ strategic goals,” says Tom Goeke, president of Klockner Pentaplast of America. “Together with Cinven, we will continue to pursue the expansion of Klockner Pentaplast.”