BC Buys 80% Of Israel’s Keter Plastic For $1.7B

July 24, 2016 |  BC Partners is to buy an 80% stake of Israel’s Keter Plastic at a company value of $1.7 billion. BC Partners beat out a joint venture of CVC Capital Partners and Goldman Sachs in a bidding war, according to Israeli and international media sources. BC Partners is a private equity firm operating from London, Paris, Hamburg and New York and specializing in European buyouts and acquisitions. It has also bought a number of US companies. Founded in 1948 in a small workshop in Jaffa, Keter has grown to become the world’s largest manufacturer of resin-based household and garden furniture. Its product range includes garden sheds, toolboxes, bathroom cabinets and backyard playhouses for children. The company now operates 29 plants in Israel, Europe and the United States. From its $880 million sales in 2015, Keter totaled a gross profit of $310 million, a 45% increase on its 2014 total.