Next Wave Partners has announced the $45 million refinancing of Petainer Group with Qatar investment bank QInvest. Petainer is a manufacturer of large containers and refillable PET packaging.
Next Wave Partners announces the $45 million refinancing of Petainer Group (“Petainer”) with QInvest, Qatar’s leading investment bank, in what is the first deal of a new strategic partnership. The refinancing is amongst the world’s first Sharia’a compliant unitranche financing structures and will provide capital for the development of new facilities for Petainer as the business continues to grow in new and existing markets.
Stephen Walls, Partner at Next Wave Partners and Chairman of Petainer said: “The new facilities for Petainer create a strong platform to capitalise on global opportunities in the PET large container market and will also accelerate Petainer’s already strong growth in small containers in Western Europe. Next Wave Partners looks forward to working with QInvest to build Petainer into a global player and to future collaborations.”
Alex Armstrong, Head of Financial Institutions and Structured Finance at QInvest said: “We are delighted to be backing Petainer as it embarks on an exciting phase of growth in both developed and developing markets and particularly excited given the innovative nature of the transaction. QInvest looks forward to working further with Next Wave Partners and building a long term partnership.”
Petainer is a world leader in the manufacture of large containers and refillable PET packaging and is also a leading player in the Scandinavian PET bottle market. It is recognised by its customers as being a leading, innovative protagonist in the development of sustainable packaging.
The unitranche is a type of financing that combines senior and subordinated into one instrument; the borrower pays one single combined profit rate to one lender, and the blended rate falls between the rate for senior and subordinated notes. The unitranche instrument was created to simplify structures and accelerate the execution process.
QInvest is pleased to be able to offer this new structure to investors seeking Sharia’a compliant financial solutions.
Petainer also raised a new €15.4 million revolving credit facility with Česká Spořitelna, the leading Czech
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Jonathan Brod, Partner, Next Wave Partners
T: +44 (0) 203 005 7535
Bassel Hanbali – Head of Marketing, Corporate Communications & Investor Relations, QInvest
T: +974 6654 2099
Note to Editors:
Next Wave Partners
Next Wave Partners is a growth capital private equity investor who back fast growing business services
and consumer companies in the UK and Northern Europe. The firm manages c. €100 million and has
seven investment professionals in its London office. Its portfolio also includes Secured Mail, one of the
UK’s fastest growing e-commerce logistics companies, SPA Future Thinking, one of the UK’s largest
private market research agencies and Molinare, one of the UK’s leading TV & Film post production
For further information, please visit www.nextwavepartners.co.uk
QInvest is Qatar’s leading investment bank with operations across the Middle East, Africa and Europe,
and one of the most prominent Islamic financial institutions in the world. QInvest has built world class
investment and advisory capabilities, with the highest standards of governance and transparency
underpinning its client-focused approach. The firm’s priority is to deliver high-value propositions,
considered solutions and tangible results for its clients and shareholders.
The firm has offices in Doha, Riyadh and Istanbul, as well as affiliates in India and the UK. Its team of
investment professionals is the largest in the MENA region and provides a blend of broad international
experience, deep regional knowledge and unparalleled relationships in Qatar. This reach and range of
skills uniquely position the firm to facilitate the flow of business between Qatar, the region and global
markets, making it a key institution in Qatar’s international investment plans.
QInvest’s three business divisions are Asset Management, Investment Banking and Principal
Investments. It has unrivalled expertise in structuring Islamic products and provides clients with Sharia’a
compliant solutions quickly and competitively.
QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the
Qatar Financial Centre Regulatory Authority. QInvest’s shareholders include Qatar Islamic Bank, other
institutional investors, as well as high-net-worth individuals. The firm has authorized capital of US$ 1
billion and paid up capital of US$ 750 million.
For further information, please visit www.qinvest.com