Private equity firm buys Berlin Packaging

Private equity firm Oak Hill Capital Partners announced Monday that it will buy Berlin Packaging LLC, a supplier of packaging products, from Investcorp SA for $1.43 billion.

Founded in 1898, Berlin Packaging makes rigid plastic, glass and metal containers. The Chicago-based company with operations in Arlington Heights has annual revenues of about $800 million, Chairman and CEO Andrew Berlin said in a recent interview with the Daily Herald Business Ledger.

Berlin Packaging's services include structural and brand design, worldwide sourcing, warehousing and logistics, and capital financing.

Berlin said his products are in every household. "We supply over 35,000 different kinds of plastic, glass and metal bottles and jars and containers and the closures that go with them. We sell to dozens of different industries," he said in the interview.

Tyler Wolfram, managing partner at Oak Hill, said he will work with Berlin to continue to grow Berlin Packaging.

"Berlin Packaging is a high-caliber business experiencing double-digit growth and targeting a large addressable market opportunity," Wolfram said. "We are excited to partner with Andrew Berlin and his talented team to support the company through its next phase of growth, as the company expands organically and through strategic acquisitions.

"The transaction is representative of Oak Hill's theme-based investment approach and long history of partnering with world-class entrepreneurs and management teams," he added.

Berlin said New York City-based Oak Hill has a long-standing history of "building superior businesses and a reputation for strong partnership with management.

"It was important to join with a firm that shares the same culture and belief system as Berlin Packaging and that is committed to growing our company by offering increased value to our customers, suppliers, and employees," Berlin said. "I know Oak Hill will be a tremendous partner for us. We would also like to thank Investcorp for their partnership over the last seven years."

The transaction, which is subject to customary closing conditions, is expected to close in the third quarter of 2014.

Berlin Packaging is North America's only hybrid packaging supplier of plastic, glass, and metal containers and closures.

• The Associated Press contributed to this report.