Proplast

Proplast is a family-owned group based in Flines-lez-Raches near Douai in Northern France. It was set up in 1990 by Pierre Berthe - winner of Ernst&Young's entrepreneur of the year award for Northern France in 2015 - and is a leading player in plastic food packaging. It has two businesses: Nutripack specialises in making and distributing plastic trays for contract caterers and large-scale food producers, while Mecapack supplies equipment such as sealing and thermoforming machinery to the same client industries. The transaction is intended to reorganise the ownership structure around Philippe Berthe and his sister Charlotte Mormentyn, with the support of Crédit Mutuel Equity, which is buying a 37% stake. Proplast has strong positions in several European countries, with annual sales of €104 million and employs 420 people.

Proplast has production units in France, Spain and Benelux, and additionally sells its products in the UK, Italy and Germany. Its two businesses generate strong commercial synergies. Nutripack - specializing in products made out of plastic injection moulding, for large companies operating in the food industry as well as local authorities - accounts for two thirds of the group's revenue. Mecapack serves manufacturers in the same sectors, supplying them with equipment such as sealing machines, thermoforming machines or allotment lines, which automatically make up meal trays for hospital patients.

Philippe Berthe is now joint CEO alongside his father, who is remaining as Chairman and CEO to oversee the buyout process. "The transaction is allowing us both to restructure and maintain our growth momentum with the support of an expert financial partner. We were attracted by Crédit Mutuel Equity's (formerly CM-CIC Investissement) long-term vision, which fits with the company's own approach", explained Proplast's young manager. His ambition is to double in size by 2020 and to increase Proplast's European reach.

"Proplast is a pure player with the potential for strong growth, through acquisitions (as shown by its recent purchase of Germay Plast'ic in Quimperlé), its acknowledged expertise, its ability to win and retain large customers and its dynamic and motivated management team", added Badri Ben Grine, Principal at Crédit Mutuel Equity.

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