Keter Creditors to Take Over Company After Sale Process Failed

A furniture maker owned by BC Partners and Canada’s PSP Investments will be taken over by creditors after it failed to find an external buyer at an attractive price.

Senior lenders to Keter Group BV have taken 100% ownership of the company and its subsidiaries, it said in an emailed statement on Wednesday. The transaction is expected to close in the second quarter of 2024.

Bloomberg News reported last week that the sale process for Keter had faltered, paving the way for a creditor takeover. Keter had received interest from suitors, but wasn’t able to find a buyer at the ...