Exal Group taken over
The US-based company, which was founded in 1993, has six facilities and 47 manufacturing lines in the US, Europe and Argentina. It produces approximately 1.3 billion units a year for the beverage, personal care and household products sectors. Annual revenues are said to reach US$400 million, said a statement from OTPP.
Terms of the deal were not disclosed.
The new owners are led by Teachers’ Private Capital, the private investment department of the Ontario Teachers’ Pension Plan and one of the world’s largest private equity investors. It includes Stonebridge Partners, a US-based private equity firm that focuses on the specialty manufacturing sector.
Future growth opportunities
“Delfin Gibert has built the leading global producer in its industry with strong leadership and a proven track record for growth. We are delighted to partner with the company at this important stage of its evolution,” said Erol Uzumeri, senior vice-president, Teachers’ Private Capital. “We believe that with Exal’s international operations and strong, diverse client base, the company will benefit from our ability to support identified future growth opportunities in both established and emerging markets. We look forward to working with management to continue to build the company.”
The Ontario Teachers’ Pension Plan is an independent organization responsible for investing the pension fund and administering the pensions of Ontario’s 289,000 active and retired teachers. Stonebridge Partners, based in White Plains, NY, is a private equity firm that invests in manufacturing companies in the packaging, infrastructure, building products, and specialty manufacturing industries.
