Ashurst advised an international lender syndicate on the financing of the acquisition of Weener Plastic Packaging Group ("WPPG") by 3i. The syndicate banks comprised Bank of Ireland, Crédit Agricole Corporate and Investment Bank Deutschland, GE Corporate Finance Bank S.C.A., IKB Deutsche Industriebank AG, ING Bank N.V., Mizuho Bank, Ltd. and SOCIETE GENERALE, Frankfurt Branch.

WPPG designs, develops and manufactures added value caps, closures and roll-on balls as well as jars and bottles for the personal care, food and beverage, and home care market. The former shareholder Lindsay Goldberg has sold its stake in the company.

3i invests approximately €250 million. The transaction is still subject to the approval by the antitrust authorities.

The Ashurst team was led by Frankfurt-based finance partners Anne Grewlich and Dr Tom Beckerhoff, supported by corporate partner Dr Benedikt von Schorlemer and tax partner Heiko Penndorf (both Frankfurt) as well as by counsel Carsten Endres (Munich), senior associate Dr Endrik Kramski (Frankfurt), associate Dr Thomas Freund and transaction managers Anna Caterina Zoth and Susanne Kasnitz (all finance, Munich).

Headquartered in Weener, Germany the company operates in close proximity to its customers with a production network of 24 locations in 15 countries and approx 2,000 employees across the world. In 2014, WPPG generated sales of approximately €270 million.