Catalyst exits Aperio for $251 million

The price represents a multiple of 6x the company's EBITDA of $40 million, according to Financial Review. Catalyst was advised by Greenhill Caliburn and Amcor was advised by Citigroup.

The deal remains subject to approval from the Australian Competition and Consumer Commission, which will make a final decision on March 29, Amcor said in a statement.

Aperio was formed in May 2005, through Catalyst's A$75.16 million buyout of AEP Industries' Australian and New Zealand businesses (AEP Australasia) in conjunction with managing director Peter Sutton.

Under Catalyst's supervision, Aperio has been one of the leading producers of flexible packaging products across Asia, with annual revenues of A$350 million. The company has 13 manufacturing facilities in Australasia and a plant in Thailand.

Aperio has acquired several companies, including FPS International in December 2005, both Epic Packaging and the Finewrap Group in July 2006, and New Zealand-based Packsys in December 2008.

Aperio is not the only firm Catalyst has on the block at present. The private equity firm has also hired Ernst & Young to run the sale of Sydney-based fresh produce provider Moraitis, which it has held alongside the founding family since May 2006. The company produces potatoes and tomatoes under the Golden Delight and Red Rascal brands.

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• Topics
• Australasia
• Exits
• Exit
• Australia
• Catalyst Investment Managers