Mauser bought by private equity firm

Private equity group Clayton, Dubilier & Rice is to buy German industrial packaging manufacturer Mauser Group. In an agreement under which CD&R-managed funds will acquire Mauser, the transaction is valued at approximately €1.2 billion. Additional terms were not disclosed.
With 2013 revenues of €1.2 billion, Mauser manufactures plastic and steel drums and IBCs for the chemical, industrial and food and beverage industries, among others. The company is also a leading provider of reconditioning services for used plastic drums and IBCs of all products. Mauser’s 4,400 employees operate 57 production facilities across 18 countries in Europe, North America, Latin America and Asia.
“Mauser is a competitively well-positioned, resilient business with strong exposure to the higher growth sub-segments of the rigid industrial packaging market in North America and Europe,” said CD&R partner David Novak. “We believe the company will continue to benefit from the combination of attractive, end-market growth and new operating improvement initiatives.”
CD&R operating partner Vindi Banga, former member of the Unilever executive board, will assume the role of chairman of the Mauser Supervisory Board at the close of the transaction, expected in the third quarter of this year.