US-based Seven Mile Capital Partners, a private equity firm, announced the sale of its portfolio company Waddington North America (WNA) to Olympus Partners, for an undisclosed sum.
Seven Mile, which was created after it was hived off from Citigroup, became WNA's majority stakeholder in 2011.
Seven Mile managing partner Vince Fandozzi said it has been pleasure working closely with Mike Evans and the rest of the management team at WNA.
"We are pleased that they found a new strong partner in Olympus Partners to help them continue to grow this special company," Fandozzi said.
WNA CEO Mike Evans said Seven Mile has partnered with WNA over the past couple of years and has taken a very active and supportive interest in the business.
WNA is a designer and manufacturer of a range of plastic disposable tableware and packaging.