BC Partners and PSP Investments $1.4 billion acquisition of 80% of Keter

Overview:

• BC Partners and PSP Investments acquired a majority stake in Israeli plastics business Keter for $1.4 billion from the company's founders, the Sagol family.
• BC Partners, a UK based private equity firm, and PSP, a Canadian pension fund, bought 80% of Keter; the Sagol family have retained a 20% share in the company. 
• BC Partners negotiated €790 million covenant-­lite, senior secured facilities for the acquisition; UBS, JP Morgan, Nomura, Royal Bank of Canada, and Bank of America Merrill Lynch were mandated lead arrangers on the loan. 
• Rothschild was financial advisor to Keter and its founders; BC Partners was represented by UBS and JP Morgan.

Ben Naylor - Regional editor