Private equity firm acquires Verescence stake
Stirling Square Capital Partners has entered into exclusive negotiations with funds managed by Oaktree Capital Management LP to acquire its entire stake in Verescence. Verescence is a global leader in glass packaging manufacturing for the perfumery and cosmetics industry. Across its three glass production and four decorations facilities in Europe and North America, the company produces over 500 million bottles every year. In 2017 VERESCENCE employed 2,300 people across the globe and registered sales of over 280 million Euros.
“We are grateful to Oaktree for their support in helping us develop the business and accelerate the company’s growth” commented Thomas Riou, CEO of Verescence. “The potential arrival of Stirling Square Capital Partners as new shareholder is in line with our strategy, in particular supporting us in the implementation of our transformation and
investment plan and enabling exciting new growth opportunities going forward. We are convinced that this transaction would greatly benefit our employees in France and across the globe, as well as our customers and partners.”