Lindsay Goldberg Acquires Schur Flexibles Group

Lindsay Goldberg today announced that it has agreed to acquire the Schur Flexibles Group ("Schur Flexibles" or "the Company"), a leading manufacturer of flexible packaging products in Europe across a range of end markets including meat & cheese, confectionary, pharmaceutical specialties and tobacco. Financial terms of the transaction were not disclosed.

Headquartered in Baden, Austria, Schur Flexibles manufactures flexible packaging which mostly consists of composite products made from paper, plastic and aluminum. In 2015, the Company generated sales of approximately €370 million, half of which were generated from the food industry. The Company covers the entire value-added chain in the packaging industry – from the procurement of raw materials to extrusion, pressing, lamination and processing. Schur Flexibles operates 11 production plants across Germany, Finland, Denmark, the Netherlands, Poland, Slovakia and Greece and employs approximately 1,100 employees.

Following the transaction, CEO and co-owner Jakob A. Mosser, who has led the Company over the last five years, will continue to lead Schur Flexibles. "We aim to drive organic growth and make accretive acquisitions. We have already identified a number of target companies that could create value for the portfolio," said Dr. Thomas Ludwig, managing partner of Lindsay Goldberg's German affiliate. The acquisition of Schur Flexibles represents Lindsay Goldberg's second investment in a European packaging company.

In 2012, Lindsay Goldberg invested in the Weener Group, working with management to achieve significant growth. During Lindsay Goldberg's ownership period, employee headcount increased from 1,200 to 2,000, sales increased from €140 million to €270 million, and earnings achieved similar performance. Michael Dees, a Partner at Lindsay Goldberg, added, "The acquisition of Schur Flexibles aligns perfectly with Lindsay Goldberg's investment strategy in Germany and other markets. We are very excited to partner with and support the Schur management team as it continues to pursue its successful growth strategy." The transaction is subject to customary closing conditions and is expected to close in the third quarter.

Lindsay Goldberg is a private investment firm with approximately $13 billion of equity capital that focuses on partnering with family-owned and entrepreneur-led businesses seeking a partner to help actively build their businesses. For more information about Lindsay Goldberg, please visit www.lindsaygoldbergllc.com.

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