US-based private equity firm Ara Partners has acquired sustainability-focused beverage packaging provider Petainer.
Based in the UK, Petainer develops and manufactures sustainable, high-performance polyethylene terephthalate (PET) packaging solutions for customers in the soft drinks, beer, water and other consumer packaged goods (CPG) sectors.
The company specialises in multiple-use, refillable bottles (refPET), recycled PET (rPET) and circular applications.
Led by CEO Hugh Ross, Petainer operates a network of eight sites in Europe, the Americas and Asia to serve blue-chip customers worldwide.
Ara acquired the company in partnership with its management and Next Wave Partners’ affiliates.
The financial terms of the deal have not been disclosed.
Ara partner Christopher Picotte said: “Petainer is a compelling addition to Ara’s portfolio of companies working to decarbonise the packaging industry through technical innovation and best practices.
“From its product leadership in the refPET and rPET markets to the certified carbon-neutral manufacturing at its Lidköpking factory in Sweden, the company has consistently achieved success in decarbonising both its products and its own operations.
“We look forward to working with Hugh and his team and supporting Petainer in its future growth.”
Ara specialises in industrial decarbonisation investments and has invested in the industrial and manufacturing, chemicals and materials, energy efficiency, green fuels, and food and agriculture sectors.
The company said that the acquisition will increase Petainer’s ability to invest in expansion alongside its multinational customers.
Ross said: “Ara’s investment focus on industrial decarbonisation and its expertise and existing presence in the plastics recycling industry in Europe and the Americas make them a uniquely valuable partner for Petainer.
“Ara’s ownership will significantly enhance Petainer’s ability to invest in expansion alongside our multinational customers as these customers implement their global sustainability and circularity strategies.”
Earlier this year, Ara Partners’ portfolio company Repeats invested in Anviplas, a firm that produces recycled low-density polyethylene (LDPE).