Apax lines up €1bn debt package for Gerresheimer unit acquisition
Apax Partners is lining up around €1bn of leveraged debt financing to support its acquisition of two businesses from German packaging specialist Gerresheimer, according to a report by Bloomberg citing unnamed people familiar with the transaction.
Private equity firm Apax Partners is set to acquire two businesses from German packaging company Gerresheimer, backed by a €1 billion leveraged debt package, according to Bloomberg. The financing is expected to consist of term debt and a revolving credit facility, potentially syndicated to institutional investors later this year.
Apax announced in July its intention to buy Gerresheimer's Primary Packaging Plastics (PPP) and Centor US Holding, a US-based pharmacy packaging manufacturer. While Apax chose not to disclose the purchase price, they confirmed the combined businesses have an enterprise value of €1.5 billion.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
