Sulo Acquires San Sac
December 19, 2019
Cleary Gottlieb represented Sulo, a Latour Capital portfolio company, in the acquisition of the San Sac group and its financing.
The acquisition of San Sac is a build-up following the primary LBO led by Latour Capital in consortium with Bpifrance in connection with the acquisition of the Environment Division of Plastic Omnium, which closed on December 18, 2018. Cleary also represented Latour Capital and Bpifrance in the context of the primary LBO.
Cleary also advised Latour Capital, Sulo, and the San Sac group in the financing of the acquisition and the refinancing of the existing financial indebtedness of the group, which took the form of an additional unitranche bonds issuance fully subscribed by funds managed by ICG for a total principal amount of SEK 695 million.
The closing of the acquisition took place on December 19, 2019.
San Sac is the market-leading provider of waste sorting, containment, and compaction products in Scandinavia and a world leading manufacturer of compaction machines.
Sulo is the European leader in the containerization of waste through a broad range of products and services dedicated to waste management consisting in container solutions, related services, and digital solutions to manage waste collection.