Ara Partners, a private equity firm, and Next Wave Partners, a growth focused private equity firm, completed the acquistion of Petainer, a producer of sustainability-focused beverage packaging solutions, from KKR. Financial terms were not disclosed. "Petainer is a compelling addition to Ara's portfolio of companies working to decarbonise the packaging industry through technical innovation and best practices. From its product leadership in the refPet and rPet markets, to the certified carbon neutral manufacturing at its Lidköpking factory in Sweden, the Company has consistently achieved success in decarbonising both its products and its own operations. We look forward to working with Hugh and his team and supporting Petainer in its future growth," Christopher Picotte, Ara Partner.