AXA PE exits KTP in management buy-back

KTP managing director Andreas Wintrich, who held a 40% stake prior to the sale, will now be a majority shareholder. A new investor – the nature and name of which remains confidential – also backed the transaction, which was organised as a limited auction process.

AXA PE stated it was pleased with the outcome of the investment. Despite the downturn, sales have nearly doubled since it took over the business in 2006, which was the initial objective at the time of the buyout.

Previous funding
AXA PE acquired a 60% stake in KTP for an undisclosed sum in 2006. General manager Andreas Wintrich retained the remaining 40% stake. Landesbank Rheinland Pfalz provided a senior debt package to back the transaction.

Company
Headquartered in Bous, KTP was founded in 1988 and produces reusable plastic transport packaging solutions. It offers a range of transport containers and inlays for large-volume and sensitive goods, as well as plastic pallets and containers in all standard sizes for overseas transport.

The business currently employs 90 staff, up from 60 at the time of the 2006 buyout. Sales for 2011 ar expected to exceed €20m.

People
Dirk Wittneben and Marc Abadir led the deal for AXA PE.

Advisers
Vendor – Blue Corporate Finance, Lars Veit, Konstantin Schönborn (M&A); SJ Berwin, Christoph Brenner, Stefan Sebastiani (Legal).

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• Topics
• DACH
• Exits
• Industrials
• Germany
• Axa Private Equity
• Management buy-back