RiverRock sells ES-Plastic to CM-CIC-backed Proplast

RiverRock made the divestment from RiverRock European Opportunities Fund, a €169m credit vehicle that provides companies with a range of financing products.

CM-CIC acquired a 37% stake in Proplast in a buyout transaction in January 2016. The group generated sales of €104m and employed 420 people at the time.

Previous funding
RiverRock acquired ES-Plastic in June 2015, according to press reports.

Company
ES-Plastic was founded in 1966 and is headquartered in Hutthurm, Germany. It provides tools for the manufacture of tubs, trays, lids, sorting inlays and films, as well as manufacturing the packaging itself. The company generated revenues of €37m in 2016, according to press reports.

Advisers
Acquirer – EY (financial due diligence); De Pardieu Brocas, Cédric Chanas, Noëmie Fort, Nadine Gelli, Jérôme Mas (legal); Georg, Franck Evers, Paul Caesar Rode (legal).
Vendor – Taylor Wessing, Christian Traichel, Bert Kimpel, Stefan Kroeker, Christian Saueressig, Ruprecht von Weichs zur Wenne (legal).

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• Topics
• Exits
• Portfolio management
• DACH
• Industrials
• Germany
• Credit Mutuel Equity (ex CM-CIC Investissement)
• Trade sale
• Build-up