(PrivateEquityCentral.net) New York-based private equity firm JP Morgan Partners announced today it acquired plastics manufacturer M&H Plastics.
M&H Plastics makes bottles, caps, and flexible tubes for the for the cosmetic and toiletry markets. The company is based in Suffolk and employs in excess of 600 people. The majority of the company’s sales are in the UK with sales in over 30 countries. The existing management team, led by managing director John Anderton, will remain in place.
“This well-established and growing business is a great addition to our portfolio and further confirms our credentials in the packaging sector,” Jonathan Meggs, a managing partner at JP Morgan Partners Europe, said in the statement. “We look forward to supporting the team in the areas of expansion they’ve identified.
Bank of Scotland Structured Finance provided the debt for the transaction. Ernst & Young advised the vendors on the sale.
Earlier this month, JP Morgan Partners acquired two publishing companies from New York-based VS&A Communications, the private equity arm of media merchant bank Veronis Suhler Stevenson, through its Ascend Media portfolio company. The two companies acquired include Atwood Publishing and GEM Communications. Atwood is a leading publisher of magazines and directories for the trade industry, while GEM publishes trade magazines and organizes conferences and exhibitions for the gaming industry.
JP Morgan Partners, formerly Chase Capital Partners, has over $24bn under management and has closed over 1,000 individual transactions since its inception in 1984. The firm has more than 140 investment professionals in eight offices internationally. The firm’s primary limited partner is financial institutions JP Morgan Chase & Co.