VR Equitypartner: KTP merges with Belgian conTeyor Group
Frankfurt am Main / Bous / Merelbeke — KTP Kunststoff Palettentechnik (portfolio company of Frankfurt-based investment company VR Equitypartner) and conTeyor International (majority-owned by Dutch investor Gilde Equity Management) have merged to form a new market leader in the packaging sector.
The group combines KTP’s expertise as a leading specialist for reusable, foldable carrier and container systems made of plastic with conTeyor’s know-how in the field of textile inner packaging solutions.
Together, the group with around 1,000 employees will generate global sales of approximately EUR 200 million.
The transaction, which is still subject to regulatory approval, is expected to be completed this year.
KTP Kunststoff Palettentechnik GmbH was founded in 1988 and is a pioneer in the development and manufacture of sustainable and innovative reusable plastic packaging.
The foldable containers and large load carriers are made from 80% recycled material and save a significant amount of space when returning goods by reducing their volume.
From the Saarland, KTP supplies customers worldwide with the vision of making logistics greener by reducing CO2 emissions.
VR Equitypartner acquired a minority stake in KTP at the end of 2011 and has since supported the family entrepreneur and other management in the company’s strong expansion.
In addition to diversifying the customer structure and ongoing product innovation, a new production site was built in Lisdorf, Saarland, which enabled the company to reflect the high growth and deeper value creation in production.
In 2022/23, the Slovenian inner packaging specialist K2 PAK was also acquired. conTeyor, founded in 1995 near Ghent, is an international provider in the development and production of customized textile and steel packaging solutions for scratch- and damage-sensitive parts.
The company is a leader in innovative and sustainable packaging for the automotive industry.
Its customers include automotive manufacturers, household appliance and electronics producers in particular.
To achieve maximum protection with minimum space requirements, conTeyor uses advanced 3D design and construction methods, supported by proprietary software.
conTeyor’s production sites are located in Europe and North America.
conTeyor’s declared goal is to significantly reduce CO2 emissions through innovative packaging and to become an ESG pioneer in its field.
Gilde, a leading investment company from Benelux, has held a stake in conTeyor since 2018.
As part of the transaction, the KTP founding family Wintrich is withdrawing from the shareholder group and management, although the previous CEO Andreas Wintrich will continue to support the new group in an advisory capacity.
The KTP shareholders VR Equitypartner and Wagner Holding will retain a significant stake in the group.
The management team consists of the two conTeyor managing directors Orm Verberne (CEO) and Tim van Londersele (CFO) as well as KTP managing director Martin Hentschel (COO).
The current KTP site in Bous (Saarland) will serve as the group’s headquarters. Orm Verberne, CEO of conTeyor and the future group, says: “We are delighted to open a new chapter in the history of both companies. A joint market presence and the combination of our know-how is the best of both worlds and makes us a true House of Competence. Sustainability is in the DNA of KTP and conTeyor. We help our customers to cut costs and reduce their carbon footprint by developing reusable packaging and storage solutions with a long shelf life. The combination of standardized containers and customized inlays is the way to a more sustainable world.”
Christian Futterlieb, Managing Director of VR Equitypartner, adds: “The business models and market coverage of KTP and conTeyor are highly complementary — our KTP stands for foldable container solutions and load carriers made of plastic, while conTeyor offers individualized inner packaging solutions made of textile. A high-potential combination that benefits from the strong trends towards more sustainable logistics and customized packaging solutions. We look forward to working together with the employees of KTP and conTeyor as well as our partners Wagner and Gilde. In addition to the employees, special thanks are due to Christel, Andreas and Horst Wintrich and Martin Hentschel, whose tireless commitment has made KTP a unique success story.”
Andreas Wintrich, Managing Director of KTP, says: “Together with our long-standing partners, VREP and Wagner, we as a family and management have developed KTP into a strong and successful innovation leader. Sustainability, customer and employee orientation are our top priorities. The merger with conTeyor is an important step for the future of the company and the right time to hand over the baton to a new generation of managers. My family and I are delighted that KTP’s success story will continue.”
The VR Equitypartner transaction team: Sarah Ostermann, Vincent Mrohs, Jens Schöffel, Simone Weck, Falk Steckenborn Advisors VR Equitypartner on this transaction: M&A: Rautenberg & Company (Philipp v. Hochberg, Maximilian Gailer, Marcel Hellenthal) Legal: Orrick, Herrington & Sutcliffe (Dr. Christoph Brenner, Adrian Dengler, Stefan Riedl) Financial Due Diligence: Deloitte (Tanya Fehr, Nils Nobereit, Stefan Spies, Marvin Reissland) Tax Due Diligence: Deloitte (Hannah Hildebrand, Dorothea Paar, Marie-Christin Wienand) Tax Structuring: Flick Gocke Schaumburg (Dr. Florian Kutt, Larissa Rickli, Rickard Kelch) Antitrust Advice: Lupp + Partner (Tilman Siebert)