Plastipak has announced that investment from Goldman Sachs Capital Partners (GSCP) will enable them to capitalize further on additional global growth opportunities.
The manufacturer of plastic packaging for the food and beverage market said affiliates of GS Capital Partners has agreed to make a “significant equity investment” in the firm, which is subject to regulatory approval.
Bill Young, founder and CEO of Plastipak, said: "We look forward to a new partner in the form of GSCP as we execute our strategic vision for providing the best products and services to our clients and continuing to build out our global footprint."
Henry Cornell of Goldman Sachs Capital Partners said: "Plastipak has an industry-leading management team and a world-class product portfolio.
"We look forward to working alongside the company's current executives and the Young Family to continue to drive growth globally."
Plastipak will continue to be run and owned by the Young Family, who still holds the majority stake.