Latour Capital in Consortium With Bpifrance Acquire the Environment Division of Plastic Omnium

July 23, 2018

Cleary Gottlieb represents Latour Capital and Bpifrance in connection with their announced consortium acquisition of the environment division of Plastic Omnium.

The environment division of Plastic Omnium is the European leader in the containerization of waste through a broad range of products and services dedicated to waste management consisting of container solutions, related services, and digital solutions to manage waste collection. In 2017, the environment division generated annual revenues of approximately €300 million, and it employs 1,800 people operating across 12 countries.

The acquisition is a primary LBO led by Latour Capital in consortium with Bpifrance. Latour Capital was founded in 2011 by Cédric Bannel, founder of Caradisiac.com, Philippe Leoni, CEO of Spir Group for 13 years, and Alain Madelin, former Minister of Economy and Finance. It targets companies with an enterprise value between €50 million and €300 million and is investing through its fund II. Bpifrance, a French public investment bank, is a financing institution held by the French State and the Caisse des Dépôts et Consignations.

The closing of the acquisition, which remains subject to employee representatives consultation and antitrust clearances, is expected by the end of 2018.