Equistone Partners Europe sells Ratioform to TAKKT AG
Funds advised by Equistone Partners Europe (“Equistone”) have sold all of their shares in Ratioform Holding GmbH (“Ratioform”) to TAKKT AG for approximately €210m. With the support of Equistone over the last six years, Ratioform has developed into a leading multi-channel supplier of packaging solutions. Completion is subject to approval by the relevant anti-trust authorities.
- Ratioform is a leading multi-channel supplier of packaging solutions
- Buy-and-build strategy has been implemented successfully since 2006; most recently with the acquisition of UK company Davenport Paper Co. Limited in February 2012
- Sales strategy has been optimised by the successful takeover of franchise partners
- TAKKT is a strategic partner for further corporate development
In 2006, funds advised by Equistone, together with the management team, acquired a majority stake in Ratioform from the company’s founder Thomas Krieg. The clear aim of the investors was to strengthen Ratioform's market position through organic and acquisitive growth. Revenue has risen continuously ever since, with the Company generating sales of €83m and EBITDA of €22.6m in 2011.
Ratioform is headquartered in Pliening near Munich, Germany, and employs a total of 300 staff across Europe. Under Equistone’s ownership, Ratioform’s sales concept has been strengthened by the takeover of franchise partners and its logistics capabilities have been expanded and centralised. Among other factors, Ratioform caters for growing demand for transport packaging driven by the increasing importance of e-commerce.
Ratioform was founded as a family company in 1979 and is now the leading business to business provider of transport packaging in Germany. 75 per cent of total sales are generated within Germany. In addition, Ratioform is active in five other European countries.
"Together with Ratioform’s management team and the company founder Thomas Krieg, over the last six years we have successfully managed to build upon the outstanding position Ratioform occupies in the market and to create additional jobs at the same time," says Peter Hammermann, managing director of Equistone, in explaining the transaction.
"By taking over franchise partners and adapting the logistics systems, we have placed Ratioform in a position where it can now embark on the next stage of its development on a sustainable footing." adds Jan Wiechmann, director of Equistone.
"Along with Equistone Partners Europe, we have over the last six years focused our approach more heavily on optimising cash flows and improved the operational management of our subsidiaries. Thanks to this preparatory work, we are now well placed for the next stage of growth and expansion," says Michael Vollmer, managing director of Ratioform, in describing the working relationship with Equistone, a leading investor in medium-sized businesses.
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