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2009-08-31 00:00:00
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Rutland Partners, the UK private equity partnership, has exchanged contracts to acquire the CeDo group of companies from Delton AG, Bad Homburg/Germany. The transaction is conditional on merger control clearances and is expected to complete within three months.
CeDo is a manufacturer of household disposables, manufacturing both own-label and proprietary products.
The company has pioneered and will continue to drive the environmentally friendly practice of including increasingly large proportions of post-consumer recycled plastic in its plastic products at its three manufacturing plants in the UK, Poland and China. This has been made possible by the high grade tailored output produced from CeDo’s own post-consumer plastic recycling facility in the Netherlands.
Rutland will invest from its £322 million fund, Rutland Fund II, to support the acquisition with the balance of the funding coming from debt facilities provided by Lloyds TSB Commercial Finance and Indigo Capital LLP. CeDo will be Rutland’s third investment from Rutland Fund II.
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