Blackstone Funds Acquire Gerresheimer Glas from Investcorp and JP Morgan Partners

HAMBURG & DUSSELDORF, Germany & NEW YORK–(BUSINESS WIRE)–An acquisition corporation owned by private equity funds advised by Blackstone signed an agreement today to buy Gerresheimer Glas, the Dusseldorf-based international packaging company. The parties have agreed not to disclose details of the transaction.

The vendors acquired Gerresheimer Glas from the former Viag AG in 2000. Founded in 1864, Gerresheimer Glas is a leading international packaging and systems solutions specialist, particularly in the pharmaceutical and cosmetic industries. The “Glass Packaging” division offers pharmaceutical packaging made of tubular glass and special container glass. The “Pharma Systems” division manufactures packaging and application systems from tubular glass and synthetic materials.

Gerresheimer Glas has manufacturing plants at 16 locations in Europe and America and employs around 5,400 people worldwide. Sales amounted to around EUR 550 million in 2003, over 75% of which were generated abroad.

Dr. Hanns Ostmeier, Senior Managing Director of The Blackstone Group Deutschland GmbH said: “The acquisition of Gerresheimer Glas provides yet more proof of the positive role played by private equity as a driving force behind the necessary structural changes in the German economy. As with Celanese and the Sulo Group, the Gerresheimer Glas transaction offers us the opportunity to strategically develop companies with first-class portfolios and strong market positions, and to leverage their potential value.”

Yves Alexandre, Managing Director at Investcorp, said: “Over the past several years, Gerresheimer has transformed itself substantially and is well-positioned for attractive growth in the pharmaceutical sector. We wish the company and its employees well for the future.”

Tom Walker, Partner at J.P. Morgan Partners, said: “Axel and his team have done an outstanding job in driving this business forward and creating a platform for future opportunities.”

Dr. Axel Herberg, Chief Executive Officer of Gerresheimer Glas AG: “Gerresheimer Glas has systematically driven forward the internationalization of its business over the past few years. Now is the time for the next step in the Company’s development. We are pleased to have found a partner in Blackstone, who will contribute its expertise as an international investor to achieving our target of further expansion.”

About Blackstone:

The Blackstone Group, a leading global investment and advisory firm, was founded in 1985. The firm has raised in excess of $30 billion for alternative asset investing since its formation, including over $14 billion for private equity investing. Blackstone Capital Partners IV is the largest institutional private equity fund ever raised at $6.45 billion. Blackstone is headquartered in New York and is advised on its European investments by offices in London, Paris and Hamburg. The latter office was recently opened to advise on fund investments in the German speaking and Northern European markets. Blackstone’s policy is only to pursue strictly friendly transactions. www.blackstone.com

About Investcorp:

Investcorp is a global investment group with offices in New York, London and Bahrain. The firm has four lines of business: corporate investment, real estate investment, asset management and technology investment. It was established in 1982 and has since completed transactions with a total acquisition value of more than $25 billion. The firm now manages total investments in alternative assets of approximately $8.6 billion. In the United States, Investcorp and its clients currently own corporate investments that include Aero Products International, PlayPower, EnviroSolutions and Thomson Media. In Europe, Investcorp and its clients currently own corporate investments that include APCOA AG, Hilding Anders, Minimax and Helly Hansen. Further information is available at www.investcorp.com