LOS ANGELES, Calif. (May 1, 2013) – Platinum Equity announced today it has completed the sale of Contego Healthcare Limited to FIL International Limited, a subsidiary of Filtrona plc, for cash consideration of approximately £160 million.
The healthcare packaging business is one of Europe’s leading and most technically advanced packaging manufacturers and makes cartons, leaflets, self-adhesive labels, and printed foils for blister packs for the pharmaceutical and healthcare markets. The sale includes Contego Healthcare’s ten manufacturing sites in the UK, Italy, Germany, France and Ireland.
“We are proud of the way Contego Healthcare has evolved as part of the Platinum Equity portfolio,” said Platinum Equity Partner and President of Portfolio Operations Bryan Kelln. “By investing in capital improvements and partnering with the management team to execute a sound operational plan, we created substantial value and have positioned the company for continued success under new ownership.”
Over the past two years Contego Healthcare built two new factories and made major investments in state-of-the-art printing and folding technology at its ten sites across Europe.
Platinum Equity acquired the healthcare packaging business and a food and cartons packaging business from South Africa-based Nampak Limited in February 2011. Both businesses were subsequently rebranded under the Contego name. The Contego food and cartons business was sold to Graphic Packaging Holding Company in December 2012.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 145 acquisitions.
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