Ardian underwrites debt package for Sagard

The sponsor will use the facility to assist with its buy-out of France-based plastic packaging firm Ipackchem.

Ardian has provided a unitranche financing facility to France-based private equity firm Sagard. The financing will be used to help buy-out French plastic packaging manufacturer Ipackchem, a company announcement confirmed.

The management of Ipackchem will remain shareholders in the company, the announcement notes. The buy-out will allow the firm to expand internationally via both organic growth and acquisitions. Ipackchem currently has operations in France, the UK, Hungary, South Africa and Brazil.

The terms and size of the unitranche facility provided to Sagard by Ardian could not be determined by time of publication. Guillaume Chinardet, head of private debt France and managing director at Ardian, declined to mention specifics regarding the size or terms of the financing.

Ardian provided the unitranche financing due to Ipackchem’s status as a leading company in a sector with high barriers to entry, Chinardet added. “It’s a very interesting company for many reasons,” he told PDI. “It’s a company that’s really in a niche market.”

Chinardet also said Ardian had worked with Sagard before, though not recently. He added Ardian believes Sagard to be good at managing its acquisitions and identifying promising investment opportunities.

Ardian has approximately $60 billion in assets under management across strategies domiciled in North American, Europe and Asia.