Spain-based mid-market private equity firm Mercapital has acquired 80% stake in Group Betapack, a Spanish maker of plastic caps and closures for euro 40m.
The company is aiming to consolidate Betapack's position as a supplier of closures to Europe's bottled water segment and strengthen its international expansion.
Mercapital CEO Javier Loizaga said the Betapack group has many of the characteristics of companies, in which it had earlier invested in, such as high technological level which allows for constant innovation and a resolute willingness to grow globally.
Betapack, which produces moulds such as polyethylene and polypropylene, is the Europe's third ranked closure producer for the water market.
Betapack runs a cap and closures plant in Irun and its South American offshoot Mirvi Brasil.
The group business plan also conceives an additional Mercapital investment to expand the Mirvi Brasil plant and its expansion into other markets in Latin America.