IMAP Netherlands involved in Pack2pack buyout

The management of packaging producer Pack2pack, with the help of investment company Gilde, took over the company, which was owned by the American company Greif, through a management buy-out (MBO). The deal was supervised by five consultancy firms: Accuracy, Allen & Overy, DRV Corporate Finance, IMAP Netherlands and Simmons & Simmons.

Pack2pack Halsteren is Benelux 'market leader in the production of canned packaging materials for the industry segment and is also active in the collection, reconditioning and recycling of metal and plastic barrels. The company, which is active worldwide, was taken over in 2011 by a subsidiary of Greif, a Pack2pack partner and market leader in industrial packaging.

Management buy-out
Last year the management of the packaging specialist expressed the wish to implement a management buy-out. Led by Chris Paelinck, CEO of Pack2pack, the company started a conversation with a number of investment companies. The choice ultimately fell on Gilde Partners, one of the oldest investment companies in the Netherlands. With the help of Gilde, who endorses the strong market position of the packaging specialist, Pack2pack has entered into an agreement with Greif and the management buy-out is now a fact.

Dealmakers
The deal was supervised by five consultancy firms. On behalf of Pack2pack, the Gilde investment company was financially advised by DRV Corporate Finance (deal team: Marco du Pré and Pieter Poortvliet). Accuracy (Leontine Koens-Betz) took care of the due diligence and law firm Simmons & Simmons (deal team: Leo Verhoeff, Pieter de Visser, Robbert Jansen and Oscar Hoefnagels) gave legal advice to Gilde. Seller Greif was legally assisted by law firm Allen & Overy (deal team: Katinka Middelkoop, Aafke Landsmeer and Rens Bondrager), and for financial advice Greif called on the corporate finance agency IMAP Netherlands (deal team: Axel Fuhri Snethlage, Jan-Pieter Borst and Cees Van Vliet).