Growth via internationalisation and expansion of range of services
€146.8mn
Equity investment
€82mn
Revenues 2019 (exp.)
760
Employees 2019

KEY FACTS AT A GLANCE

  • Market with solid growth rates and favourable trends around sustainability
  • Sustainability efforts and the move to recycling management are beneficial
  • Further growth via internationalisation and expansion of product and service portfolio

CARTONPLAST HOLDING GMBH

Investment by
DBAG FUND VII

€146.8MN

DBAG'S INTEREST

€24.9MN

MANAGEMENT BUYOUT
Shareholders:
DBAG FUND VII

99.4%

EQUITY SHARE BELONGING TO DBAG

16.8%

other shareholders

0.6%

First invested

NOVEMBER 2019

REVENUES in €mn

 

77

 

2017

 

79

 

2018

 

82

 

2019 (erw.)

As of 31 December 2019

~80

PER CENT

market share across current countries

Due to the stable market environment and the company’s strong market position, Cartonplast is an attractive investment opportunity for DBAG.

VOLKER BONSELS
MANAGING DIRECTOR

PROFILE

Cartonplast primarily rents out reusable and recyclable plastic layer pads for the transportation of glass bottles, cans and other containers to the manufacturers of these containers. Within its customer value chain, Cartonplast has established a closed logistics cycle, comprising not only rental, but also collection, sorting and cleaning of the reusable layer pads. Compared to cardboard layer pads, those made of plastic are more hygienic, safer in transport and – due to their reusability – more cost-efficient.

Thanks to its close customer relationships, Cartonplast has gained a leading position in Europe – in a market with solid growth rates. The company is benefiting from an outsourcing trend as well as from sustainability efforts and the increasing importance of reusability.

POTENTIAL FOR DEVELOPMENT

In the years to come, Cartonplast will focus on internationalisation in order to continue its path of dynamic growth. Furthermore, the company aims to expand its range of services, e.g. through the additional rental of plastic pallets and top caps.

FINANCIAL YEAR 2019

DBAG Fund VII acquired a stake in Cartonplast in November 2019. Over the last years, Cartonplast has generated a steady increase in deliveries through the cycle (6.0% PLP deliveries CAGR since 2005). Recently, the company benefitted from higher demand across all regions, in particular in Iberia and Germany. The positive margin development was mainly driven by economies of scale and personnel efficiency gains. Current trading indicates further revenues and EBITDA growth for 2019.

OUTLOOK AND OBJECTIVES

Cartonplast’s future growth is mainly driven by the existing business in core markets (Germany, Iberia, Poland, UK) and growth markets (Turkey, Russia) as well as by geographic expansion into new markets by leveraging existing customer relationships. Furthermore, Cartonplast aims to achieve further organic growth by penetrating the market with complementary products such as top frames, top caps and plastic pallets.

Responsible team member

Volker Bonsels
Volker Bonsels

Managing Director

Volker Bonsels
Name:
Volker Bonsels
Telephone:
+49 69 95787-152
E-Mail:

Volker Bonsels

Managing Director

Volker Bonsels joined Deutsche Beteiligungs AG in 1995 and became a Managing Director in 2001.

He holds a degree in Industrial Engineering from the University of Technology, Kaiserslautern, and also studied at the University of Warwick. He started his professional career as a trainee in corporate banking at Deutsche Bank.

Volker Bonsels has 24 years of experience in private equity. He was, and is, a member of the advisory councils at those portfolio companies in which DBAG invested under his lead capacity. He has extensive expertise in a variety of sectors, including building components, industrial services and mechanical and plant engineering. Among the most successful transactions he led are Coperion, Lewa and Otto Sauer Achsenfabrik.

Current portfolio companies

Former portfolio companies

Volker Bonsels

Managing Director

+49 69 95787-152
volker.bonsels(at)dbag.de