Stirling Square Capital Partners LLP of London has sold its stake in SchÃ¶ller Arca Systems NV to U.S. private equity firm One Equity Partners of New York for $592 million.
SchÃ¶ller makes a variety of material-handling products, including beverage crates and trays, intermediate bulk containers, postal containers and pails. It posted 2006 sales of 500 million euros ($628 million) and employs 1,500.
Stirling has been Vilsteren, Netherlands-based SchÃ¶ller's majority owner since 2003.
One Equity Partners officials declined comment.
SchÃ¶ller has made two significant plastics-related deals under Stirling's watch.
In 2005, the company acquired Arca Systems International AB of MalmÃ¶, Sweden.
Then, in April this year, SchÃ¶ller sold part of its business to Myers Industries Inc. of Akron, Ohio.
Those assets included injection molding machines, molds and inventory related to the Xytec and Combo product lines of collapsible, reusable bulk containers for manufacturing, food, liquid transport and other applications.
More changes could be in the works. When SchÃ¶ller announced the deal with Myers, Chief Executive Officer Rene Wolfkamp said the company wanted to strengthen its position in the U.S. market, particularly in plastic pallets and foldable small containers.
``We have successfully introduced many innovative solutions for plastic pallets and foldable small containers to the U.S. and are serving a number of prominent customers,'' Wofkamp said at the time.
Wofkamp said then that the company intended to put its ``full focus'' on those particular product groups.