February 26, 2021
The Carlyle Group to sell stake in Logoplaste to Ontario Teachers’ Pension Plan Board after five successful years
Logoplaste, a leading global designer and manufacturer of innovative and sustainable rigid plastic packaging solutions for the world’s premier FMCG brands, today announced that Ontario Teachers’ Pension Plan Board (Ontario Teachers’) has agreed to acquire The Carlyle Group’s (NASDAQ: CG) majority stake in the company. Current Logoplaste shareholders Filipe de Botton and Alexandre Relvas will retain their approximately 40% stake in the business as it embarks on its next phase of growth. The financial terms of the transaction, which are subject to customary regulatory approvals, were not disclosed.
Logoplaste’s value-added rigid plastic packaging solutions are used by a wide range of global blue-chip clients. The company offers unique expertise across all phases of packaging development, from ideation, design and engineering to full industrial implementation. Logoplaste’s business model centres on the development of strong and long-standing partnerships with customers through dedicated facilities, fully integrated within the customer’s premises, eliminating secondary packaging waste, just-in-time operations and significantly reducing transport needs. Sustainability and innovation have been integral to Logoplaste since inception and are key to its continued success.
Ontario Teachers’ is Canada's largest single-profession pension plan and one of the world’s pre-eminent private equity investors. Through its Private Capital team, Ontario Teachers’ offers companies flexible, long-term capital and adds value as active owners. Since launching Private Capital in 1991, Ontario Teachers' has invested in more than 500 companies and funds.
Carlyle invested in Logoplaste in October 2016 through Carlyle Europe Partners IV (CEP IV), a European-focused, upper mid-market buyout fund. This successful investment is another example of Carlyle’s strategy of working in partnership with entrepreneurs and management teams to execute value creation initiatives. During Carlyle’s period of partnership, Logoplaste has delivered strong growth and its governance has been further strengthened. Growth has been achieved organically, through the investment and development of additional facilities across Europe, North America and Brazil, and through acquisitions, notably a majority shareholding in Poland’s Masterchem. Supported by long-standing clients, the company’s activities in North America have more than tripled in the last five years, while in Europe the business has continued to expand.
Gerardo Chiaia, CEO of Logoplaste, said: “This marks an exciting new chapter for our company as we look forward to the continued growth opportunity for Logoplaste and its customers with backing from Ontario Teachers’. We also thank Carlyle for their partnership, expertise and support in maintaining Logoplaste’s position as a leading provider of rigid packaging solutions for the consumer goods industry and in driving continuous innovation with an integrated approach that is the foundation of our company.”
Filipe de Botton, Chairman of Logoplaste, said: “Carlyle has been a valuable partner for Logoplaste’s, supporting the business to keep on delivering strong growth and an innovative suite of products, as the company has positioned itself as a pioneer in its field. We are excited to keep on building on our leadership position in the industry and look forward to Logoplaste’s next phase of growth in the years to come alongside Ontario Teachers’. Allow me to thank Alex Wagenberg, Carlos Robles and the Carlyle team for their support on this great journey over the last five years.”
Alex Wagenberg, Managing Director of the Carlyle Europe Partners advisory team said: “It has been an immense pleasure to partner with Filipe and Alexandre and to have the opportunity to work closely alongside Gerardo and his industry-leading management team. Through investment in innovation and sustainability, geographic and product expansion, and a continued focus on high levels of customer service, Logoplaste has delivered remarkable growth. We are very confident that Logoplaste’s best years lie ahead and wish the team the continued success it so well deserves.”
Nick Jansa, Senior Managing Director, Europe, the Middle East and Africa for Ontario Teachers’ said: “We are pleased to be partnering with the de Botton family, Alexandre Relvas and management as new owners of Logoplaste. We see the company as a great fit for our Private Capital portfolio given their industry leadership, highly resilient business model and strong commitment to sustainability. We look forward to supporting the company in their next stage of global growth.”
Logoplaste and its shareholders were advised by Barclays Bank PLC, Goldman Sachs International and Linklaters LLP. In addition, Vieira de Almeida & Associados advised the reinvesting shareholders.
Ontario Teachers’ was advised by Credit Suisse International as financial advisor, Weil, Gotshal & Manges and Uria Menendez as legal advisors and Ernst & Young LLP as accounting and tax advisor.
Notes to Editors:
- Each year, Logoplaste’s solutions saves its clients significant CO2 emissions compared to the market norms through eliminating unnecessary transport and secondary packaging.
- In 2019 this represented savings of more than 12,000 tonnes of CO2.
- In 2020, the company reinforced its credentials in this space having announced “Mission Zero+”, a commitment to build a fully functioning industrial plant with zero emissions.
- Also in 2020, Carlyle and Logoplaste completed the leveraged loan market’s first institutional ESG (Environmental, Social and Governance) term loan which links Logoplaste’s interest payments to the achievement of CO2 savings targets.
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Logoplaste is a global value-added service provider and producer of rigid plastic containers for many well-known global consumer companies in the food and beverage, cosmetics, personal care and household industries. Founded in 1976, the company has pioneered the in-house manufacturing model, significantly reducing CO2 emissions from transportation and secondary packaging and contributing to improve the overall environmental impact from its customers supply chain. Logoplaste currently manages 62 factories, with locations in 16 countries: Brazil, Belgium, Canada, Czech Republic, France, Italy, Poland, Mexico, Netherlands, Portugal, Russia, Spain, Ukraine, United Kingdom, USA and Vietnam. In 2016, Carlyle Europe Partners partnered with the de Botton and Relvas familes in the shareholding of Logoplaste to support the further growth and international development of the group. www.logoplaste.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $246 billion of assets under management as of December 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs 1,825 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.
About Ontario Teachers’
The Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with $204.7 billion in net assets (all figures at June 30, 2020 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.5% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific regional offices are in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded as at January 1, 2020, invests and administers the pensions of the province of Ontario's 329,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.