Miura Private Equity and Demeter Partners have sold Contenur, a Spanish waste containers business, to US buyout firm Acon Investments.
Madrid-based Contenur manufactures and sells wheelie bins and waste receptacles across Europe, South America, Asia and the Middle East. This year it will report turnover of more than €100m.
Since Miura and Demeter’s investment it has acquired Brazilian market leader Contemar, opened a factory in Poland and launched subsidiaries in Colombia, Singapore and the Czech Republic.
The current management team led by Íñigo Querejeta will continue to hold an equity stake and run the business.
Spanish investor Miura and Paris-based Demeter acquired Contenur from Investindustrial in 2012.
EY, Grant Thornton and Hogan Lovells advised Acon. The vendors were advised by KPMG and Baker & Mckenzie.