Dubai, United Arab Emirates - 4 August 2014: Dubai International Capital LLC ('DIC'), the private equity arm of Dubai Holding, today announced that it has completed the sale of MAUSER Group ('MAUSER' or 'the Group') to Clayton, Dubilier & Rice ('CD&R') for c. $1.7 billion. The agreement for this sale was announced on 12 May 2014.
David Smoot, Chief Executive Officer of DIC, commented: "We are extremely pleased with the outcome of the MAUSER sale. This transaction demonstrated DIC's ability to improve and grow the companies it has invested in to ultimately achieve an attractive value at the point of exit. We are now focused on continuing to enhance the value of our remaining portfolio as we prepare the companies for an eventual exit."
MAUSER, a worldwide leading producer of rigid industrial packaging with approximately 4,400 employees and consolidated revenues of over $1.6 billion, was originally acquired by DIC in 2007 in a deal that valued the Group at c. $1.1 billion.
Bank of America Merrill Lynch acted as exclusive financial advisor to DIC. Latham & Watkins provided DIC with legal counsel.
About Dubai International Capital LLC:
Dubai International Capital LLC is a private equity investment company established in 2004 as a wholly owned subsidiary of Dubai Holding. DIC's private equity portfolio includes market-leading companies in Europe and the Middle East including; Almatis, Doncasters, Ishraq and Dubai Aerospace Enterprise. For further information visit www.dubaiic.com
About MAUSER Group
MAUSER Group is a worldwide leading producer of industrial packaging with approx. 4,400 employees and consolidated revenue of over $1.6 billion. Founded in 1896 and headquartered in Bruehl near Cologne (Germany), the company has influenced the international market through innovative packaging technologies. The portfolio for customers in the chemical, agrochemical, petrochemical, and pharmaceutical sectors as well as in the food and beverage industries includes plastic packaging, fiber drums, steel drums, Intermediate Bulk Containers (IBC), and reconditioning services through the National Container Group (NCG), a MAUSER subsidiary. MAUSER therewith provides sustainability-oriented full cycle services - from production to recycling ("ECO-CYCLE®"). With more than 80 MAUSER/NCG sites and multiple joint ventures in Europe, the Americas and Asia plus two licensee networks for plastic and steel packaging, the company is a presence around the globe. www.mausergroup.com For media enquiries please contact:
Brunswick:
Edward Moore
+971 4 446 6270
emoore@brunswickgroup.com
Azadeh Varzi
+44 20 7404 5959
avarzi@brunswickgroup.com
© Press Release 2014
