WHEB sells interest in Petainer, a manufacturer of large container and refillable PET packaging, to co-investor Next Wave Partners
WHEB has sold its 2008 private equity funds interest in the Petainer group (Petainer) to its co-investor Next Wave Partners. Petainer is a world leader in the manufacture of large container and refillable PET packaging and is also a leading player in the Scandinavian PET bottle market. It is recognised by its customers as being a leading, innovative protagonist in the development of sustainable packaging.
Next Wave Partners and WHEB acquired Petainer from Rexam PLC in November 2009. WHEB has sold its interest for twice its funds original investment cost.
Stephen Walls, Partner at Next Wave Partners and Chairman of Petainer said: WHEB has been an excellent partner in the Petainer story and we look forward to investing alongside their private equity team again in the future.
James McNaught-Davis, Managing Partner at WHEB, said: Our work with Petainer is a good example of the expertise and support we can provide SMEs looking to grow into global businesses. Moreover, it represents further proof that our resource efficiency investment strategy is generating attractive returns for our fund investors.