In July 2007, CVC Asia Funds acquired GS Paper & Packaging (GSPP) from Genting Group in a transaction representing one of the first true leveraged buy-outs in Malaysia.
Founded in 1992, GSPP is the leading manufacturer and distributor of industrial brown papers and corrugated box packaging in Malaysia. GS Paper & Packaging (GSPP) is the largest of three integrated paper-box producers in Malaysia, and the clear market leader in terms of the scale and advanced technology of its production facilities, as well as the quality and design of its products.
The company manufactures and markets a wide range of industrial brown papers and corrugated box packaging and is the only company in Malaysia that offers a full-range of brown paper products including recycled linerboard, corrugating medium and test liner.
In March 2010, CVC agreed to sell GSPP. During the investment period, GSPP’s business initiatives generated significant improvements in paper yield, machine speed, energy cost savings, higher sales productivity, raw material procurement and usage efficiencies. Major improvements were also achieved in the health and safety performance at the production facilities.