Industry sources revealed that private equity firm Blackstone Group has mandated investment banks Credit Suisse Group & Morgan Stanley to advise on the initial public offering (IPO) of Gerresheimer Group. Blackstone plans to float the German packaging systems company mid-2007, it was said. It is not clear yet whether the IPO will take place at the end of the 1H of 2007 or in the 2H of the year, the sources said. Spokespeople for Blackstone Group & the two investment banks declined to comment. Founded in 1864, Gerresheimer Group specializes in packaging systems serving the pharmaceutical & cosmetics industries. In 2005, Gerresheimer generated sales of around EUR 526M. After taking over drug delivery systems company Wilden AG early in 2006, the company expects 2006 sales of EUR 900M.
