GP has bought a majority stake in Dutch disposable plastic bags developer and manufacturer One Way Plastics (OWP) for an undisclosed sum.
The GP's most recent buyout fund (H2 Equity Partners Fund V) held its first and final close in March 2016 on its hard-cap of £200m. H2 typically invests in mid-size companies in Benelux, the UK and Germany with up to €500m in sales.
This marks a second deal in quick succession for H2, which backed the buyout in mid-October of Poultry Machinery Joosten (PMJ), a Netherlands-based developer and manufacturer of poultry processing systems.
The fresh funding is expected to help OWP to expand in Europe and the US.
OWP, founded in 1996 and headquartered in Oosterhout, is a developer and manufacturer of disposable piping bags for bakers and chefs.
H2 Equity Partners – Gert Jan van der Hoeven (managing partner).
One Way Plastics – Jan van der Straaten (founder, managing director).
One Peak Partners and Morgan Stanley Expansion Capital invested €22m in Quentic in 2017
Sale ends a two-year holding period for Charme, which acquired the company via its third fund
GP provides equity to support the acquisition of the US-based telecommunications firm
Simon Pilcher will be responsible for overseeing the investment strategy governing the scheme's £64bn in assets