WARSAW, POLAND – DECEMBER 10, 2020 – Western NIS Enterprise Fund (WNISEF) announced today that it has exited, alongside other shareholders, its stake in Moldova-based Glass Container Company and Glass Container Prim to Vetropack Austria Holding AG, a subsidiary of Vetropack Holding SA (SWX:VETN).
Vetropack is a leading Swiss player in the European glass packaging industry, operating facilities in Switzerland, Austria, Czech Republic, Slovakia, Croatia, Ukraine, and Italy, with CHF 714.9 million in 2019 revenues.
WNISEF, capitalized with a $150 million grant from the U.S. Government via the U.S. Agency for International Development (USAID), was created in 1994 to support the development of small and medium-sized private enterprises in Moldova and Ukraine by providing equity, debt, and grants.
Horizon Capital, a leading regional private equity firm with over $850 million in assets under management via 4 funds, including the WNISEF investment portfolio, has led value-creation at Glass Container Companies and this exit process.
MacDonald & Associates has served as exclusive financial advisor to a consortium of selling shareholders led by Horizon Capital and WNISEF.
“We were truly impressed with MacDonald & Associates’ quality of advice, their commitment to providing a world-class service to its clients as well as their ability to navigate swiftly through the challenging COVID-19 deal environment. Their involvement and guidance in the transaction was instrumental in securing an investor with a long-term outlook for Glass Container Holding. We would very much like to work with the MacDonald & Associates team in the future,” said Vasile Tofan, Partner at Horizon Capital.
“This transaction underscores MacDonald & Associates’ market-leading capabilities in both cross-border M&A and the food & beverage packaging sector, and cements our firm’s reputation as a first-rate corporate finance advisor of a European-wide reach,” said Edward MacDonald, Managing Partner of MacDonald & Associates.