The buyer is none other than North-American investment firm Oaktree Capital Management, which is already the main financial partner (80%) of the SGD group, a glassmaker specialising in packaging for the perfumery, cosmetics and pharmaceuticals industries. The amount of the transaction was not disclosed.

21 Centrale Partners took over Nord Est in 2007, after a spin-off its non-strategic activities, in order to refocus the group on its core business of packaging and establish a leading global player in the sector.

Under the 21 Centrale Partners impulse, Nord Est rationalized its industrial footprint and reorganized its production apparatus. Moreover, the group considerably accelerated its international development, entering new high-growth markets through product development as well as build-ups, in France and most recently in Brazil.

Over the four-year investment tenure, sales progressed by 25% to 325 million euros, Ebitda increased twofold, and significant deleverage was achieved,” said 21 Centrale Partners in a release.