KPS exits talks with Warburg Pincus over joint Gerresheimer bid
KPS Capital Partners has walked away from discussions with Warburg Pincus over a potential joint acquisition of Gerresheimer AG, according to a Bloomberg report citing people familiar with the matter.
The two private equity firms had been conducting joint due diligence on Gerresheimer, which has drawn interest for its high-margin pharmaceutical packaging operations.
Warburg had been considering a bid in the range of €70 per share, with a focus on acquiring the company’s moulded glass business.
Gerresheimer’s shares tumbled 8% on the news of KPS’s exit, extending a broader decline of over 33% this year. The company’s market capitalisation now hovers around €1.5bn. Investor sentiment has been under pressure since Gerresheimer cut its full-year guidance and suspended its dividend earlier this June.
Prior to engaging KPS, Warburg had briefly explored a partnership with KKR, though those talks collapsed in April.
Based in Düsseldorf, Gerresheimer manufactures both cosmetic packaging, such as glass jars and bottles for luxury brands, and pharmaceutical delivery systems including syringes, vials, and inhalers. The company has been reviewing strategic options for its moulded glass unit since 2023 and is widely viewed as a potential breakup candidate.