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).
GP intends to acquire a stake in acquirer Dustin, which Altor listed in 2015
According to Borsen, the GP's stake is more than 35% and that the deal valued Luxion at almost DKK 1bn (€134.5m)
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