KKR completes privatization of Singapore's Goodpack

The private equity firm offered to pay S$2.50 per share for all outstanding shares in the company through a scheme of arrangement in March. Two months later the offer was approved by the Goodpack board, including David Lam, the executive chairman who owned 35% of the business. Shareholders voted in favor of the privatization in August.

KKR will seek to accelerate Goodpack's growth by penetrating new verticals and increasing sales in existing markets. Capstone, the private equity firm's operations division, will also work with Goodpack to unlock greater value.

"Goodpack is a highly successful packaging solutions company with its innovative, unique product that offers compelling value to its customers while being environmentally friendly. We look forward to working with Goodpack's experienced management team and believe that, in partnership, we will strengthen the Company's position as a leader in the logistics solutions space," Ming Lu, co-head of Asia private equity at KKR, said in a statement.

IBCs are reusable industrial containers designed for both shipping and storage. Goodpack claims to own and operate the world's largest fleet with 3.3 million units, spread across more than 5,000 delivery and collection points worldwide. Made of high tensile steel, IBCs are seen as an alternative to disposable packaging such as wooden pallets, paper cartons and single-use steel drums.

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• Topics
• Buyouts
• Southeast Asia
• Industrials
• KKR
• buyout
• Southeast Asia
• Singapore
• Logistics
• manufacturing