Waterland buys majority stake in Leupold

The deal remains subject to German competition authority approval.

The two parties had been in discussions for a number of years and began concrete discussions for the deal in 2020.

The deal has also seen Waterland acquire Leupold's subsidiary Schneller.

Waterland plans to support the company in establishing a platform in the folding carton packaging market via organic growth and add-on acquisitions.

The GP said in a statement that it expects online commerce and the demand for environmentally friendly packaging solutions to be drivers for the development of the business.

Waterland invested via Waterland Fund VII, which held a final close in August 2017 on €2bn. The fund generally deploys equity tickets of €2-25m in companies with revenues of €10m-200m.

Company
Leupold produces packaging such as folding collapsible cartons, bags, boxes and corrugated packaging. The company also manufactures custom-made products. The company reports revenues of less than €50m.

According to its 2018 annual statement, Leupold has experienced revenue and EBITDA growth for a number of years and reports margins that are above average for companies in the sector. The company was founded in 1910 and is based in Schwabach, with a production facility of 17,000 square metres.

People
Leupold – Reiner Kamphausen, Bernd Aßmann (managing directors).
Waterland Private Equity – Carsten Rahlfs (managing partner).

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