Stirling Square, the pan-European private equity firm, has taken control of Netherlands-based Schoeller Wavin Systems NV in a €145M leveraged recapitalisation.
SWS makes returnable plastics packaging. Typical products include crates, boxes, pallets and dollies for the food, beverage, chemical and retail industries.
The transaction originated as a result of the Schoeller family's desire to monetise a portion of their investment in SWS and provide an exit for JP Morgan Partners, a minority investor in the company.
By selling a controlling interest to Stirling Square, the Schoeller family achieved their objective of retaining an interest in SWS, releasing funds for other entrepreneurial activities and involving a partner that could support its ongoing expansion.
On the back of the equity investment of Stirling Square, the company has been able to raise a new long-term debt package, partially utilised to refinance existing debt.
Stefano Bonfiglio, a partner of, said: "Schoeller Wavin Systems has a very strong business model and leading market position and will benefit from the growth and consolidation of the European packaging industry," says Stirling Square partner Stefano Bonfiglio.
