Deal Details

Cartonplast Is Acquired by DBAG

Technology & Services
Industrial

Cartonplast, owned by funds advised by Stirling Square, sale to DBAG

Summary

Cartonplast Group GmbH (“Cartonplast” or the “Company”), owned by funds advised by Stirling Square Capital Partners (“Stirling Square”), recently entered into a definitive agreement to be acquired by Deutsche Beteiligungs AG ("DBAG") for an undisclosed value. The completion is subject to approval by antitrust authorities.

Baird served as exclusive financial advisor to Stirling Square Capital Partners on this transaction.

About

Founded in 1985, Cartonplast is a privately held, closed-loop rental service provider. The Company is a leading rental service provider of reusable plastic layer pads (“PLPs”) used for the transportation of glass and can containers. Cartonplast serves all major global glass container manufacturers ensuring hygienically safe, efficient and cost-effective transport. Cartonplast also offers ancillary services including logistics processes, cleaning services and recycling services as part of the whole logistics cycle. The Company operates 18 service centres across Europe, has on-site operations in Brazil and maintains washing facilities in South Africa. Cartonplast currently operates a pool with c. 45 million PLPs that are distributed in 144 million deliveries annually, generating revenues of approximately €80 million in 2018. A new management team has been implemented under Stirling Square ownership, which strengthened Cartonplast’s market presence through a number of acquisitions, scaled the PLP rental business and integrated the European rental operations in one pan-European pool. The Company is headquartered in Dietzenbach, Germany.

Stirling Square Capital Partners was established in 2002 as a pan-European private equity firm which invests in mid-market companies with enterprise values of between €50 million and €500 million. Stirling Square manages over €2 billion on behalf of a global and diverse investor base.

Deutsche Beteiligungs AG, a listed private equity company, initiates closed-end private equity funds, and itself invests alongside those funds in well-positioned mid-market companies with growth potential. DBAG focuses on those industry sectors where Germany’s ‘Mittelstand’ is particularly strong in international comparison. With its experience, expertise and equity, DBAG supports the portfolio companies in implementing long-term and value-enhancing corporate strategy. DBAG’s entrepreneurial investment approach makes it a sought-after investment partner in the German-speaking world. DBAG manages and advises capital amounting to around €1.8 billion.

Technology & Services
Industrial

Cartonplast, owned by funds advised by Stirling Square, sale to DBAG