Verescence, a global market leader in glass packaging manufacturing for the perfumery and cosmetics industry has three glass production and four decorations facilities in Europe and North America.
The potential arrival of Stirling Square Capital Partners as a new shareholder follows exclusive negotiations with funds managed by Oaktree Capital Management, L.P. to acquire its entire stake in the company. The proposed transaction will be submitted to the relevant workers’ council of Verescence and will be subject to competition and other regulatory approvals.
Thomas Riou, CEO of Verescence, said the company are convinced that this transaction would greatly benefit customers, partners and employees in France and across the globe.
Stirling Square Capital Partners is a pan-European private equity firm that invests in mid-market companies across Western Europe, whereas Oaktree is a global investment manager specializing in alternative investments.