Transaction

Clearwater advises Motion Equity Partners on the acquisition of a majority stake in Tournaire Group, leading aluminium packaging manufacturer for the pharma, cosmetics and food segments, alongside the Tournaire family

Transaction

Motion Equity Partners acquired a majority stake in Tournaire

Buy-side

Undisclosed

Role

Adviser to Motion Equity Partners on the acquisition of a majority stake in Tournaire Group

Sector

Industrial & Chemicals

Region

France

Clearwater has advised Motion Equity Partners on the acquisition of a majority stake in Tournaire Group, a historical leading global player in high-barrier packaging for the pharmaceutical, cosmetics, and food segments, alongside its founding family who retain a significant share of the capital.

Founded in 1833, Tournaire has nearly two centuries of expertise in the design, manufacturing, and sale of high-barrier packaging solutions. Working mainly in aluminium ranging from 15mL to 32L, it is used to safely store, sample, ship, and market high-value / noble materials such as essential oils, active ingredients, and solvents, amongst others. As a strategic partner, the Group has a diversified portfolio of more than 900 clients operating in dynamic sectors such as pharmaceuticals, flavours & fragrances, agrochemicals, chemicals, and food ingredients. The one-piece technology and high-barrier properties of Tournaire’s aluminium solutions, perfectly meet their requirements of performance and recyclability.

The Group operates its main production site in Grasse, France, benefiting from unique industrial know-how. Tournaire also operates a manufacturing site in Fragnes, eastern France, producing high-barrier plastic packaging, as well as sales offices in the US and Vietnam. With almost 300 employees, the company distributes to 80 countries worldwide and in 2021, the Group achieved sales of over €90m.

On the eve of Tournaire's 190th anniversary, the family shareholders wish to utilise additional resources to seize numerous growth opportunities. In order to support client needs in particularly dynamic markets, the family has chosen to build a strategic and financial partnership with Motion Equity Partners, a private equity investor with an entrepreneurial culture and strong track record.

In the coming years, the shareholders’ objective will be to consolidate Tournaire's position in its historical markets, accelerating Group development, both internationally and in high-potential application markets. At the same time, the company will continue to provide excellent service to clients, with focus on innovation and environmental protection. Post-transaction, the historical shareholders will retain a significant share of the capital, offering continuous progression to the Group.

image 72

Motion Equity Partners has an ambitious project with a long-term approach for Tournaire. Their rapid understanding of the stakes of the Group and its markets quickly convinced us of the relevance of this new strategic partnership. This project is a great opportunity to reinforce our organisation and shareholding structure via a long-term partnership with a professional investor and boost development while preserving our values, autonomy and the strengths that contribute to our success. This transaction will allow Tournaire to move forward and invest further in innovation and our operations.

Jeanne Lions, CEO, Tournaire
image 72

We are particularly proud to support Tournaire in this new step of the development journey alongside the founding family. The Group has established itself as a French industrial flagship and one of the leading players in high-performance industrial packaging, offering solutions recognised by its clients. We will be able to build an ambitious roadmap, leveraging our expertise in the field of renewable packaging and capitalising on a rich heritage and strong corporate values.

Patrick Eisenchteter and Anthony Baudoin, Partners, Motion Equity Partners

We were really happy to assist the Motion Equity Partners team on both M&A and debt advisory services to secure this transaction. Tournaire Group is a worldwide industrial packaging leader we have been following for the last couple of years. We are confident that this partnership will be the perfect match to help the Group to boost its growth.

Jonathan Bursztyn, Managing Director, Clearwater

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