Swedish private equity player, EQT Group, has exited its investment in packing group, GPA Global, marking the third exit out of its Mid Market Asia III fund.
The firm, which often employs a value-add strategy, acquired a co-controlling stake in GPA in 2017 and sold the China and US-headquartered group to Ontario Teachers’ Pension Plan Board OTPP for an undisclosed amount, the parties announced last week. The two co-founders, Tom Wang and Adam Melton, retain their stake in and control of the company. EQT declined to share details of the new ownership.
During its five-year holding period, EQT led seven acquisitions for GPA that helped it...
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