September 24, 2012
TILBURG, NETHERLANDS (Sept. 24, 12:50 p.m. ET) – New York-based private equity firm Lindsay Goldberg LLC, which is represented in Europe by Lindsay Goldberg Vogel GmbH, has acquired rigid plastics packaging company Plasticum Group BV.
Tilburg-based Plasticum Group produces caps and dispensing closures for the personal care, food and home care markets at four manufacturing facilities: Tilburg and Ede (Netherlands), Waldkirch (Germany) and North Walsham (UK). The group has approximately 300 employees and had 2011 sales of 61 million euros.
Plasticum was owned by Royal Ten Cate between 1983 and 2006, when the Dutch group sold it to a management buy-out team and NPM-Capital.
The terms of the acquisition have not been disclosed. Competition authorities have already approved the deal.
Plasticum is mainly active in Europe, but its management is planning international expansion.
Roel Zeevat, CEO of Plasticum, said in a statement: “With the support of our new owner we want to drive international growth with our cost-effective and sustainable packaging solutions and continue to invest in research and development.”
Thomas Ludwig, managing partner at Lindsay Goldberg Vogel, said: “Plasticum is active in steady, growing market niches and has good potential for further international expansion with its current customer base. The expectations are excellent thanks to Plasticum’s high quality and cost-efficiency as well as the market position of its customers.”
He said Lindsay Goldberg Vogel is convinced Plasticum has the ability to gain many new customers.
In February, the private equity firm acquired German packaging manufacturer Weener Plastik AG.