Stirling Square sells ESE World to RPC for €262.5m

The exit comes a year after Stirling Square refinanced the business, with Bluebay and Avenue Capital providing a fresh €90m round of debt.

Since the GP's initial investment, the business has merged with its sister company Rheinwerk, as well as investing in product development.

The sale to RPC is expected to complete in the first quarter of 2017.

Previous funding
Stirling Square acquired ESE from Otto Group for an undisclosed amount in July 2010.

Company
Headquartered in Maastricht, in the Netherlands, ESE manufactures domestic and industrial waste containers, including wheelie-bins, kitchen bins, hazardous waste containers and containers for garden waste.

The business has a headcount of 600 across its manufacturing facilities in Germany and France, as well as its research and development centre in Germany. It is anticipating a turnover of around €200m in 2016.

People
Stirling Square Capital Partners – Jakob Förschner (partner).
ESE World – Björn Hedenström (CEO).

Advisers
Vendor – Harris Williams & Co (financial due diligence); Hengeler Mueller (legal).

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