Oaktree Capital Management LLC has Agreed to Acquire a Majority Stake in NORDENIA INTERNATIONAL AG
January 04 , 2006
GREVEN -- Oaktree Capital Management LLC, a private equity group, has entered into an agreement to acquire the NORDENIA INTERNATIONAL AG. The current executive management team of the Group under the leadership of Ralph Landwehr will remain in place. The transaction is expected to close in the first quarter of 2006.
The Group's CEO, Mr. Ralph Landwehr stated "We now strive to further expand our market share both through organic growth as well as through bolt-on acquisitions." NORDENIA is viewed by Oaktree as a company with an excellent performance in the industry. "The film and flexible packaging market offers great growth potential. NORDENIA has a proven track record regarding the quality and innovation of its products. We want to support the sustainable growth of the Group", commented Hermann T. Dambach, Managing Director of Oaktree GmbH in Frankfurt.
NORDENIA INTERNATIONAL AG is a worldwide manufacturer of flexible packaging solutions, technical films and hygiene product components. The Group is one of the leading flexible packaging companies in Europe. Approximately 3,000 employees work for the Group in its manufacturing facilities in Europe, North America, Asia and Africa. During 2005, the Group was able to increase sales by 8 % to approx. ˆ 430 million.
The acquisition of NORDENIA will be Oaktree's third acquisition in Germany during 2005. Oaktree Capital Management is a worldwide operating investment company with funds under management in excess of USD 29 billion. Headquartered in Los Angeles, Oaktree has additional offices in New York, London, Frankfurt, Tokyo and Singapore.
The investment bank Ermgassen & Co acted as financial advisor to NORDENIA and the sellers.
