Petainer, KKR Credit ink pact for 100 mn euro

Petainer U.K. Holdings on Tuesday announced it has signed a binding agreement with KKR Credit for 100 million euro debt and equity investment. The funding from KKR Credit will be used to refinance the company’s capital structure and also finance the implementation of the company’s growth strategy, according to a statement from Petainer U.K Holdings. Next Wave Partners will remain the majority shareholders and KKR Credit is taking a substantial minority shareholding. The transaction is expected to complete later in April 2016. Petainer is a global provider of high performance packaging solutions to a diverse range of consumer, food and beverage end markets.