Vision Capital has opened its New York office and completed of its acquisition of the assets of Terphane, a manufacturer of speciality polyester films, from a syndicate of financial investors.
Vision Capital has invested in the Americas since 2004 and has three existing portfolio companies in the region, which are now joined by Terphane.
The new office will enable Vision Capital to support its investments in the Americas more fully.
Terphane’s films are predominantly used to supply the food packaging industry and have benefited from the trend towards more speciality value-added films being used in products such as metalised food pouch containers and yogurt lids.
This investment is being made by Vision Capital Partners VII, the firm’s latest fund which closed at EUR680m in January 2009.
Matthew Constantino, managing director at Vision Capital Americas, says: “We are delighted to expand our presence in the Americas with both the New York office opening and acquisition of Terphane. Terphane represents an exceptional opportunity for us to invest in a market-leading, high growth business and we see significant other opportunities ahead. Our aim is to further strengthen our established relationships to build out our investment portfolio across the region.”
Renan Bergmann, chief executive of Terphane, adds: “We are pleased to have Vision Capital as our new committed partner, supporting us in our strategic objectives and with a long-term view towards growth. We look forward to working together to continue to deliver innovative packaging films expertise to our customers and partners.”
