Advised Greif international B.V. on the carve out of their European tinplate packaging subsidiary pack2pack Halsteren B.V. to Dutch private equity group Gilde and management.

The management of packaging producer Pack2pack, with the help of investment company Gilde, took over the company, which was owned by the American company Greif, through a management buy-out (MBO). The deal was supervised by five consultancy firms: Accuracy, Allen & Overy, DRV Corporate Finance, IMAP Netherlands and Simmons & Simmons.

Pack2pack Halsteren is Benelux 'market leader in the production of canned packaging materials for the industry segment and is also active in the collection, reconditioning and recycling of metal and plastic barrels. The company, which is active worldwide, was taken over in 2011 by a subsidiary of Greif, a Pack2pack partner and market leader in industrial packaging.

Management buy-out
The management of the packaging specialist expressed the wish to implement a management buy-out. Led by Chris Paelinck, CEO of Pack2pack, the company started a conversation with a number of investment companies. The choice ultimately fell on Gilde Partners, one of the oldest investment companies in the Netherlands. With the help of Gilde, who endorses the strong market position of the packaging specialist, Pack2pack has entered into an agreement with Greif and the management buy-out is now a fact.