Triton Partners and Platinum Equity and are among buyout firms bidding for Warburg Pincus’s holding in packaging business Clondalkin, according to four people with knowledge of the matter.
Sun Capital Partners-backed company Coveris has also made the second round of talks, said the people, who asked not to be identified because the information is private.
Warburg is selling Clondalkin’s flexibles business, which makes yogurt pot lids and chocolate wrappers, with Moelis & Co. acting as its adviser, the people said. The New York-based private-equity firm, which bought Clondalkin for 630 million euros ($715 million) in 2004, sold the pharmaceuticals unit to U.K. specialty plastic and fiber products maker Essentra for $455 million in November.
Spokesmen for Warburg, Moelis, Sun Capital Partners and Triton declined to comment. Spokesmen for Platinum Equity and Coveris didn’t respond to e-mails seeking comment.