Ontario Teachers’ Pension Plan Board (Ontario Teachers’) has agreed to acquire The Carlyle Group’s (NASDAQ: CG) majority stake in Logoplaste, a global designer and manufacturer of innovative and sustainable rigid plastic packaging solutions for MCG brands.
Current Logoplaste shareholders Filipe de Botton and Alexandre Relvas will retain their approximately 40 per cent stake in the business as it embarks on its next phase of growth. The financial terms of the transaction, which are subject to customary regulatory approvals, were not disclosed.
Logoplaste’s value-added rigid plastic packaging solutions are used by a wide range of global blue-chip clients. The company offers unique expertise across all phases of packaging development, from ideation, design and engineering to full industrial implementation. Logoplaste’s business model centres on the development of strong and long-standing partnerships with customers through dedicated facilities, fully integrated within the customer’s premises, eliminating secondary packaging waste, just-in-time operations and significantly reducing transport needs. Sustainability and innovation have been integral to Logoplaste since inception and are key to its continued success.
Ontario Teachers’ is Canada’s largest single-profession pension plan and one of the world’s pre-eminent private equity investors. Through its Private Capital team, Ontario Teachers’ offers companies flexible, long-term capital and adds value as active owners. Since launching Private Capital in 1991, Ontario Teachers’ has invested in more than 500 companies and funds.
Carlyle invested in Logoplaste in October 2016 through Carlyle Europe Partners IV (CEP IV), a European-focused, upper mid-market buyout fund. This successful investment is another example of Carlyle’s strategy of working in partnership with entrepreneurs and management teams to execute value creation initiatives. During Carlyle’s period of partnership, Logoplaste has delivered strong growth and its governance has been further strengthened. Growth has been achieved organically, through the investment and development of additional facilities across Europe, North America and Brazil, and through acquisitions, notably a majority shareholding in Poland’s Masterchem. Supported by long-standing clients, the company’s activities in North America have more than tripled in the last five years, while in Europe the business has continued to expand.
Gerardo Chiaia, CEO of Logoplaste, says: “This marks an exciting new chapter for our company as we look forward to the continued growth opportunity for Logoplaste and its customers with backing from Ontario Teachers’. We also thank Carlyle for their partnership, expertise and support in maintaining Logoplaste’s position as a leading provider of rigid packaging solutions for the consumer goods industry and in driving continuous innovation with an integrated approach that is the foundation of our company. “
Filipe de Botton, Chairman of Logoplaste, says: “Carlyle has been a valuable partner for Logoplaste’s, supporting the business to keep on delivering strong growth and an innovative suite of products, as the company has positioned itself as a pioneer in its field. We are excited to keep on building on our leadership position in the industry and look forward to Logoplaste’s next phase of growth in the years to come alongside Ontario Teachers’. Allow me to thank Alex Wagenberg, Carlos Robles and the Carlyle team for their support on this great journey over the last five years.”
Alex Wagenberg, Managing Director of the Carlyle Europe Partners advisory team, says: “It has been an immense pleasure to partner with Filipe and Alexandre and to have the opportunity to work closely alongside Gerardo and his industry-leading management team. Through investment in innovation and sustainability, geographic and product expansion, and a continued focus on high levels of customer service, Logoplaste has delivered remarkable growth. We are very confident that Logoplaste’s best years lie ahead and wish the team the continued success it so well deserves.”
Nick Jansa, Senior Managing Director, Europe, the Middle East and Africa for Ontario Teachers’ says: “We are pleased to be partnering with the de Botton family, Alexandre Relvas and management as new owners of Logoplaste. We see the company as a great fit for our Private Capital portfolio given their industry leadership, highly resilient business model and strong commitment to sustainability. We look forward to supporting the company in their next stage of global growth.”
Logoplaste and its shareholders were advised by Barclays Bank PLC, Goldman Sachs International and Linklaters LLP. In addition, Vieira de Almeida & Associados advised the reinvesting shareholders.
Ontario Teachers’ was advised by Credit Suisse International as financial advisor, Weil, Gotshal & Manges and Uria Menendez as legal advisors and Ernst & Young LLP as accounting and tax advisor.