Lindsay Goldberg Acquires German Plastics Business

US-based private equity investor Lindsay Goldberg has acquired Weener Plastik AG, a German-headquartered manufacturer of plastic packaging. International investment banking firm Livingstone acted as exclusive financial advisor to the shareholder families of Weener.

PRESS RELEASE

Livingstone, the leading independent, international investment banking firm, is pleased to announce the recent sale of WEENER Plastik AG (“Weener” or the “Company”), the international manufacturer of innovative plastic packaging, to leading US-based private equity investor Lindsay Goldberg LLC. Lindsay Goldberg LLC is represented in Central Europe by Lindsay Goldberg Vogel GmbH. Livingstone acted as exclusive financial advisor to the shareholder families of Weener.
Based in Weener, Germany, WEENER Plastik AG designs, develops and manufactures innovative plastic packaging for the Personal Care, Food & Beverage, Home Care, Chemical and Pharmaceutical segments. This includes primary packaging such as sealing caps, valve caps, beverage caps, plastic bottles, jars, dispensers and also dosing systems for customer-specific solutions and standardized products.
Weener’s diverse product portfolio and state-of-the-art manufacturing processes are at the core of the success of the WEENER Group of companies. “The spectrum of expertise and possibilities that we can offer in the Company secures our competitive edge,” said Johann Meinders, CEO, WEENER Plastik AG. “This includes our innovative power, our broad technological basis and our proximity to customers thanks to our global reach. In Lindsay Goldberg we have found the ideal partner to also continue leading the Group of companies in this spirit in the future.”
Dr. Thomas Ludwig, CEO of Lindsay Goldberg Vogel GmbH added, “Weener is truly a hidden champion. Based on solid funding we will push Weener’s international growth over the coming years leveraging our large entrepreneurial experience.”
“It was a real pleasure to advise the shareholders in this complex transaction. The former shareholders of WEENER Group had emerged into a leading European and international supplier for value added plastic packaging solutions. The Management had anticipated the need for internationalization early and managed this successfully by acquisitions and organic growth,” added Ralph Hagelgans, Partner at Livingstone Düsseldorf. “The solution found with Lindsay Goldberg fulfills the succession criteria perfectly, as the management team can consistently follow its growth strategy, and the new owner has the financial capacity to allow for the next major steps.”
The Lindsay Goldberg acquisition adds to Livingstone’s growing track record of sales to leading private equity firms such as Incline Equity Partners, Waveland Investments, JZ International, and American Securities.
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About WEENER Plastik AG With a turnover of approximately EUR 140 million in 2011, WEENER Plastik AG is one of the leading suppliers of closures for the relevant applications in Europe and has a significant market position for deodorant roll-on products. In total, WEENER Plastik AG operates manufacturing sites in 21 countries offering its clients a presence in Europe, North America, Southeast Asia, Central America and Africa. The company was founded in the early 1960’s has more than 1,200 employees.
About Lindsay Goldberg Vogel Lindsay Goldberg LLC and its affiliates focus on investing in closely held businesses and family-owned enterprises seeking capital for growth. The firm’s investment strategy is built around strong partnerships with management teams and a long- term approach to value creation by actively building businesses. Lindsay Goldberg LLC has over $10 billion of equity capital under management and is investing out of its $4.7 billion Fund III. Lindsay Goldberg LLC is represented in continental Europe through Düsseldorf-based Lindsay Goldberg Vogel GmbH. Managing Partners of Lindsay Goldberg Vogel are Prof. Dr. Dieter Vogel, former CEO of Thyssen AG, and Dr. Thomas Ludwig, former CEO of Klöckner & Co SE.