KKR to provide long term financing to Petainer
Petainer UK Holdings announced that it has signed a binding agreement with KKR Credit for a €100 million debt and equity investment. The funding from KKR Credit will be used to refinance the Company’s capital structure and also finance the implementation of the Company’s growth strategy.
Next Wave Partners will remain the majority shareholders and KKR Credit is taking a substantial minority shareholding. The transaction is expected to complete later in April 2016.
Petainer is a global provider of high performance packaging solutions to a diverse range of consumer food and beverage end markets, including beer, wine, cider, carbonated soft drinks, water and sauces. Petainer has specialist expertise in high stretch polymer engineering that it applies across much of its product portfolio to create differentiated and market disruptive packaging. The Board believes that the investment from KKR Credit provides substantial resources to Petainer to enable continued rapid growth via new product development and international expansion.
