US-based private-equity firm Kohlberg Kravis Roberts (KKR) has agreed to a €100m debt and equity investment in Petainer UK, a sustainable packaging provider.
The investment will be used to finance Petainer's capital structure and its new growth strategy.
Under the terms of the agreement, Next Wave Partners retain the majority shares of the company, with KKR Credit taking a substantial minority shareholding.
Petainer CEO Nigel Pritchard said: "Petainer's proprietary technology has enabled us to launch disruptive new products like the PetainerCooler and PetainerKeg, that rival traditional substrates and that are technically superior and minimise waste through customer supply chains.
"Our lightweight, high-performance products also help to reduce carbon footprints, making us a valued partner for customers at a time when regulators and brand owners are placing an increased focus on sustainability."
"The financial and operational strength of KKR Credit, alongside the continued support of Next Wave Partners, provides the business with a robust financial structure to continue and accelerate our growth strategy, both through market consolidation and the development of our new product pipeline."
The venture is expected to contribute to new product development and Petainer's expansion worldwide.
The transaction is expected to close by the end of this month.