Ball acquires Aerocan from Barclays Private Equity for €221m
Barclays Private Equity has announced it has signed an agreement to sell the Aerocan Group to Ball Corporation for approximately €221m inclusive of debt and other liabilities.
Aerocan group, formerly Cebal Aerosols, is the co-leader in production and marketing of aluminum aerosol cans in Europe, mainly serving the cosmetic and pharmaceutical sectors.
Barclays Private Equity acquired Aerocan in a management buyout in September 2008 from BPE European Fund III. In partnership with the management, Aerocan continued its strong growth, thanks to excellent stewardship during the crisis post September 2008 and an ambitious program of investment in new production lines.
"We have fully supported the management team's strategy during the period of our investment, working in partnership with the entire management team. Their outstanding work has enabled the Group to strengthen its position during the post-crisis period and to benefit from the market recovery in 2010," said Guillaume Jacqueau, a Managing Director at Barclays Private Equity. “The acquisition of Aerocan by Ball Corporation, a world leader in metal packaging, offers new opportunities for Aerocan, particularly for its customers outside Europe." p>
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