Chesapeake Services Ltd. and Multi Packaging Solutions Inc. (MPS) are merging.

Chesapeake, headquartered in London, manufactures consumer packaging. New York-based MPS makes print-based specialty packaging for the health care, consumer and multimedia markets. Terms of the transaction were not disclosed.

The combined company, which will make printed folded cartons, labels, leaflets, boxes and other types of packaging, is expected to have sales of more than $1.4 billion.

Chesapeake is backed by private equity firm the Carlyle Group (Nasdaq: CG), while MPS is backed by private equity firm Madison Dearborn. Both firms will own 50 percent of the combined company.

Madison Dearborn bought MPS in a deal announced in July

Credit Suisse acted as Chesapeake and Carlyle’s financial adviser, while Latham & Watkins LLP provided legal advice. Barclays and Moelis & Co. acted as financial adviser to MPS and Madison Dearborn, while Matthew Richards, Alexander Zeltser, Andrew Terry, Eric Elfman, Renata Ferrari and Bill Mone from Ropes & Gray LLP acted as legal counsel. 

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