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Merrill Lynch Global Private Equity Acquires Grupo Convermex From J.P. Morgan PartnersOctober 5, 2006 -- Grupo Convermex, S.A. de C.V. ("Convermex" or the "Company") today announced that Merrill Lynch Global Private Equity ("MLGPE") has acquired the Company from J.P. Morgan Partners, LLC ("JPMP") and other investors. Convermex is Mexico's leading producer and distributor of plastic disposable tableware products. The Company uses proprietary technology to manufacture expanded polystyrene ("EPS") cups and containers. In addition, the Company manufactures and sells an extensive variety of thermoformed cups, foamed and hard plates, trays, containers, as well as matching lids. The Company has 5 manufacturing plants, 18 distribution centers and serves retailers, wholesalers and institutional customers nationwide. The market for disposable tableware in Mexico has been growing at attractive rates driven by favorable macro and socio-demographic trends. The Company's growth strategy is centered on expanding its product portfolio through acquisitions or organically through the development of innovative products, such as Graphicup, a hybrid product that provides the insulation characteristics of EPS cups by combining foam and paper, reducing the amount of plastic resin used on the manufacturing of disposable cups and containers while enabling superior quality graphics. In connection with this transaction, Merrill Lynch and J.P. Morgan Securities acted as exclusive financial advisors to MLGPE and JPMP, respectively. About Merrill Lynch Global Private Equity: Merrill Lynch Global Private Equity ("MLGPE") is the private equity arm of Merrill Lynch & Co., Inc. ("Merrill Lynch"). Through MLGPE vehicles, Merrill Lynch carries out equity and equity-linked investments, buyouts and acquisitions. Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies with offices in 36 countries and territories and total client assets of approximately $1.5 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns just under half of BlackRock, one of the world's largest publicly traded investment management companies with approximately $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com. About J.P. Morgan Partners: J.P. Morgan Partners, LLC ("JPMP") is a private equity division of JPMorgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States. JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare and technology companies since its inception in 1984. As of August 1, 2006, the senior professionals of JPMP have formed new entities independent of JPMorgan Chase & Co. As was announced in March 2005, the buyout and growth equity professionals of JPMP have formed a new independent firm, CCMP Capital Advisors, LLC ("CCMP Capital"), and the venture professionals have separately formed a new independent firm, Panorama Capital, LLC ("Panorama"). CCMP Capital and Panorama will continue to manage the JPMP investments pursuant to a management agreement entered into with JPMorgan Chase & Co. CONTACT: Merrill Lynch, Media Relations Terez Hanhan, 212-449-2004 terez_hanhan@ml.com SOURCE: Merrill Lynch Global Private Equity Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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