VR Equitypartner and SuedBG look to exit Duo Plast

William Blair is running the auction on behalf of the sponsors.

The company generates around €9m in EBITDA, two of the sources said. The third source cited approximately €10m.

Duo Plast expected EBITDA of €8.4m for the 2018 financial year, up 5% from the €8m EBITDA it reported in 2017, and following €7m in 2016, according to 2017 public filings. The company budgeted €53m in revenues for 2018 and reported €50.6m in revenues in 2017, up 7.6% from €47m in 2016.

VR Equitypartner and SuedBG acquired a majority stake in Duo Plast in November 2013 as part of a succession arrangement.

The company makes around 30,000 tonnes of high-quality packaging film per year for industries including manufacturing, agriculture and foods. It runs two production sites in Lauterbach (Hesse) and Sünna (Thuringia), with an additional technology centre for cargo and transport security at the latter location. Duo Plast was founded in 1983 and has around 140 employees.

Its new owners pushed ahead with the company's internationalisation, expanded production capacity, streamlined internal processes and restructured sales activities, as per the website.

VR Equitypartner declined to comment. SuedBG and William Blair did not return requests for comment.

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