Reclay group to take over Vfw
The German Reclay group is to acquire its competitor Vfw GmbH from its current owner Reverse Logistics Group (RLG). Vfw is primarily active as a take-back system for packaging and also offers industry-specific solutions for packaging waste.
RLG, a subsidiary of the private equity firm Monitor Clipper Partners (MCP), purchased the company from Deutsche Post for €75m in 2007.
No information was forthcoming as to the price to be paid by Reclay. RLG is to receive a minority stake in Reclay, which will take on €20m in Vfw debt.
RLG had been looking to exit the market for some time and had hired the investment bank Moelis & Company last summer to manage the sale. It had not initially been considering selling off Vfw to a direct competitor.