Petainer Group (“Petainer”) announces the completion of a $65 million refinancing with QInvest, Qatar’s leading investment bank, and Česká Spořitelna, the prominent Czech bank also participating. The deal positions Petainer to become a global leader in highly engineered packaging solutions for small and large containers.
Nigel Pritchard, Petainer Group CEO, said “The refinancing of the business with QInvest and Česká Spořitelna provides an excellent springboard to drive our strategic growth aspirations over the coming years. This development, and continued support from shareholder Next Wave Partners, provides us with the stability and financial strength to support our customers both locally and globally, as we press forward with our expansion plans. Additionally, it provides a solid platform for the launch of new product segments focused on sustainable development."
Stephen Walls, Partner at Next Wave Partners and Chairman of Petainer, said “The new facilities for Petainer create a strong platform to capitalise on global opportunities in the PET large container market and will also accelerate Petainer’s already strong growth in small containers in Western Europe.”
Petainer is a major PET innovator and market leader in the manufacture of large container and refillable PET packaging as well as a leading protagonist in the Scandinavian PET packaging market. The Company has a strong heritage in sustainable innovations of highly engineered PET packaging products including; increased shelf life through ‘built-in’ barrier technology, extensive light-weighting driving value enhancement, improved packaging designs and extensive use of PCR and biomaterials allowing for long term environmental credibility in the sector.
The consultative approach to supply both existing standard PET packaging, as well as the design of custom packaging products, has gained traction with leading FMCG companies across the world. Most recently Petainer, alongside six other global packaging innovation leaders, became a member of the Carlsberg Circular Community, a new programme introduced in early 2014 based on the Cradle to Cradle™ principle to drive sustainability in packaging.