The owner of Schur Flexibles, private investment firm Lindsay Goldberg, has agreed to sell its controlling stake in the company to B&C Group in a deal worth €900 million.
Headquartered in Austria, Schur Flexibles specializes in high-barrier packaging solutions for the food, cosmetics, and pharmaceutical industries.
Since Lindsay Goldberg’s investment in Schur Flexibles in 2016, the team, led by CEO Michael Schernthaner and Chairman Thomas Unger, has grown sales by more than 50% to €540 million and nearly tripled EBITDA.
During this time, the number of employees grew from 1,200 to 2,100, at 22 production sites in Western and Eastern Europe.
Michael Schernthaner, CEO of Schur Flexibles, said: "We are grateful to Lindsay Goldberg for its active, entrepreneurial support in the strategic development of the company, as well as for eight value-enhancing acquisitions – and not least for the fact that Lindsay Goldberg will remain co-owner with a 20% interest.
“This shows strong commitment. The choice of our new majority shareholder B&C is also perfect for Schur Flexibles: B&C is a long-term, entrepreneurial owner with an outstanding reputation and a firm commitment to supporting the growth of Austrian business and research funding."
Since its founding in December 2000, the B&C Group has pursued the goal of investing in Austrian entrepreneurship and, through its holding companies, holds stakes in three major listed industrial companies (AMAG Austria Metall, Lenzing and Semperit) as well as stakes in several technology and growth companies.
Thomas Unger, chairman of Schur Flexibles and managing partner at Lindsay Goldberg Europe, added: "Schur Flexibles has developed excellently over the past five years. Schur’s highly specialised centres of excellence make the group an attractive and competent partner for customers in selected industries.
“At the same time, Schur Flexibles is actively committed to the circular economy and stands for sustainable packaging solutions. We are proud of the entire team at Schur Flexibles, which has combined profitable growth with customer focus and sustainability."