Shearman & Sterling advised DBAG Fund VII on the acquisition of Cartonplast Group GmbH (Cartonplast), a leading European operator of a pool system for reusable plastic layers. In a management buyout (MBO), DBAG Fund VII, advised by Deutsche Beteiligungs AG (DBAG), will take over the majority stake in Cartonplast from the financial investor Stirling Square Capital Partners. The transaction is subject to the approval of the competition authorities and closing is not expected before October 2019.
Cartonplast is the eighth investment of DBAG Fund VIl. The company, headquartered in Dietzenbach, Germany, was founded in 1985. It primarily rents out reusable and recyclable plastic layers for the transportation of glass bottles, cans and other glass or PET vessels containing food and beverages to the producers of these vessels.
Shearman & Sterling regularly advises Deutsche Beteiligungs AG on transactions, most recently in October 2018 on the acquisition of SERO Schröder GmbH.