Together with co-investor Süd Beteiligungen GmbH (SüdBG), Frankfurt-based investment company VR Equitypartner is selling the majority stake in DUO PLAST Holding GmbH that it acquired around six years ago.
The remaining shares held by the management will also change hands. The new owner of the successful high-performance film manufacturer is the Munich-based private equity company Paragon Partners. The transaction, which is still pending regulatory approval, is expected to be finalised later in the summer of 2019; no financial details have been disclosed.
"We are delighted that we have been able to fulfil the trust placed in us by the founding generation. In addition to important investments, milestones in the further development of DUO PLAST were above all the reorganisation of the management and the professionalisation of numerous processes. Today, DUO PLAST is recognised as an innovation leader and has a correspondingly outstanding market position."
Christian FutterliebManaging Director of VR Equitypartner
Growth and development
VR Equitypartner and SüdBG were involved in a succession plan in 2013. majority stake in DUO PLAST; the company founder and, until then, CEO and main shareholder Norbert Jäger moved to the Supervisory Board at that time.
Founded in 1983, the DUO PLAST Group is a Leading manufacturer in the packaging and stretch film market. The company is headquartered in Lauterbach, Hesse, with further production and sales branches in Thuringia, Austria, France and Turkey.
DUO PLAST has continued to grow during the partnership - the company now employs around 150 employees and sets just under 60 million euros around. Extensive investments were made in development and production and the company was able to drive forward its internationalisation.
[infotext icon] VR Equitypartner is one of the leading equity financiers in Germany, Austria and Switzerland. With decades of experience, the company supports medium-sized family businesses in finding strategic solutions to complex financing issues."I would like to thank the previous shareholders for what we have achieved together. We have achieved what was intended: the transfer of the company into trustworthy hands, the continuation of the successful growth and niche strategy and the sustainable positioning of the company for the future. We are now looking forward to the next development steps in which the new, entrepreneurial investor wants to support us."
Erich SteinerCEO of DUO PLAST
Further information on the Internet at http://www.vrep.de [/infotext]
Source: IWK GmbH
