2 minute read | August.20.2024
KTP Kunststoff Palettentechnik, portfolio company of German investment company VR Equitypartner, and conTeyor International, majority-owned by Dutch investor Gilde Equity Management, have merged to form a powerful group in the market for sustainable packaging solutions.
Orrick advised VR Equitypartner.
Frankfurt-based VR Equitypartner (VREP) is one of the leading private equity companies in Germany, Austria, and Switzerland. As a subsidiary of DZ BANK, Germany's leading cooperative bank, VREP supports family-owned small- and medium-sized enterprises in a target-driven manner and brings decades of experience in finding strategic solutions to complex financing issues.
KTP, based in Bous, Germany, was founded in 1988 and is a pioneer in sustainable and innovative reusable plastic packaging. VR Equitypartner acquired a minority stake in KTP in 2011 and from then on supported the company and management in its strong expansion.
conTeyor, based near Ghent, the Netherlands, was founded in 1995 and is a market leader in customized fabric and steel-based packaging solutions for scratch and damage-sensitive parts. Gilde has been a shareholder in the company, which has production sites in Europe and North America, since 2018.
The new group combines KTP's expertise in foldable containers with conTeyor's expertise in textile inner packaging. Together, the group will have about 1,000 employees and is expected to generate sales of about EUR 200 million. The transaction, which is still subject to regulatory approvals, is expected to be finalized this year.
As part of the transaction, the KTP founding family Wintrich is selling its shares and will withdraw from management. The KTP shareholders VR Equitypartner and Wagner Holding will remain significantly invested in the group. The management of the group is formed by the conTeyor managing directors Orm Verberne (CEO) and Tim van Londersele (CFO) as well as KTP managing director Martin Hentschel (COO). The current KTP site in Bous will become the group’s headquarters.
Munich-based partner Christoph Brenner led the team advising VR Equitypartner. The team also included Adrian Dengler, Stefan Riedl, Marley Brison Henchar, Timo Holzborn and Tobias von Gostomski from the firm’s German and U.S. offices.