Industrial decarbonisation investor Ara Partners has acquired sustainable beverage packaging producer Petainer.
UK-based Petainer produces sustainable polyethylene terephthalate (PET) packaging solutions for blue chip customers in the soft drinks, beer, water and other CPG sectors with particular strengths in multiple-use refPET and recycled PET bottles.
It operates eight sites in Europe, the Americas and Asia.
Christopher Picotte, partner at Ara, said, “Petainer is a compelling addition to Ara’s portfolio of companies working to decarbonise the packaging industry through technical innovation and best practices.
“From its product leadership in the refPet and rPet markets, to the certified carbon neutral manufacturing at its Lidköpking factory in Sweden, the Company has consistently achieved success in decarbonising both its products and its own operations. We look forward to working with Hugh and his team and supporting Petainer in its future growth.”
Ara Partners invests in the industrial and manufacturing, chemicals and materials, energy efficiency, green fuels, and food and agriculture sectors, seeking to build businesses that provide significant decarbonisation impact.
It closed its second fund with $1.1 billion in capital commitments in September 2021.
The oversubscribed fund was just shy of reaching two times its initial target of $650m.
The firm hired infra PE veteran Churchill George Yong as its newest partner in February, a couple of weeks after promoting James Wang to managing director.
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