ABN AMRO Capital backs Nampak MBO

ABN Amro Capital has completed its second Spanish transactions since setting up in Madrid in 2001, backing the E25m MBO of Nampak Ibérica.

(PrivateEquityCentral.net) ABN AMRO Capital, the private equity arm of Netherlands-based international bank ABN AMRO, today announced it backed the E25m management buyout of Spanish container manufacturer Nampak Ibérica from South African parent company Nampak.

 

ABN AMRO Capital now owns 80 per cent of the company, which has been renamed Silita. Bank of Scotland provided debt and working capital for the transaction.

 

Silita provides the custom molding of PET containers and other plastic materials for mineral water, oil, sauces, fruit juices and cleaning products companies and anticipates revenues close to E24m for this year.

 

Silita has six manufacturing plants in Spain and expects to develop an ambitious growth plan over the next two years with the support of ABN AMRO Capital, including new product lines and investments both in “in-house” manufacturing plants as well as in satellite plants – three further plants will be added this year. The company does not exclude growth through acquisitions.

 

“Thanks to this transaction we now have the support of an established private equity group, which will allow us to undertake important strategic projects and benefit from the market opportunities we are facing,” Fernando Ibárcena, founder and general manager of Silita, said in the statement.

 

This is ABN AMRO Capital’s second investment in Spain since it started operations there in 2001, when it acquired a stake in Unica, a cleaning services group with annual revenues in excess of E165m.

 

ABN AMRO Capital maintains branches in 12 countries including The Netherlands, UK, France, Germany, Spain, Italy, Norway, Sweden, Belgium, Australia, Brazil and US The firm has a global investment portfolio of more than E2bn invested in over 250 companies and specializes in buyouts, expansion capital and public-to-private deals of up to E500m in value.

 

Last month, ABN Amro Capital announced it joined forces with former PizzaExpress directors Luke Johnson and Ian Eldridge to launch a recommended cash offer for UK-listed restaurant group PizzaExpress that values the company at £263m.