BDO supports LEO III fund advised by DUBAG Group
BDO supports LEO III fund advised by DUBAG Group
BDO has advised Lenbach Equity Opportunities III GmbH & Co. KG (‘LEO III Fonds’), a fund exclusively advised by DUBAG Group, on the acquisition of Ampack GmbH and Osgood Industries LLC.
With the acquisition of Ampack GmbH, based in Koenigsbrunn (Germany), and Osgood Industries LLC, based in Oldsmar (USA), the LEO III Fund successfully completed its first transaction on 31 July 2024. In the future, both companies will operate under the umbrella brand Ceratech Group.
Until now, Ampack GmbH and Osgood Industries LLC belonged to the Syntegon Group, a portfolio company of private equity firm CVC. With over 6,300 employees worldwide, the Syntegon Group specialises in processing and packaging solutions for the pharmaceutical and food industries. Ampack and Osgood develop forming, filling and sealing machines for cups and bottles used by dairies and food manufacturers to package liquid and viscous foods to the highest hygiene standards. Use cases include dairy products, yogurt, dips, and delicatessen salads.
The sale of the two subsidiaries will allow the Syntegon Group to focus on its core business in future. Torsten Tuerling, CEO of Syntegon, emphasised in this context: “I am convinced that Ampack and Osgood with their more than 2,800 machines installed at many customer sites around the globe will have a good chance for substantial and sustainable growth with DUBAG. We are glad to have found a new owner with a clear strategy to develop this already successful business further.”
BDO's Transaction Tax team provided full support to the Leo III fund in carrying out tax due diligence on Ampack GmbH and in drafting the tax contracts for the acquisition of the shares in Ampack GmbH and Osgood Industries LLC. DUBAG is thus once again relying on BDO's expertise for this transaction.
Marco Thoni (DUBAG) on the cooperation with BDO: “BDO was once again a reliable partner for us in all tax due diligence matters in this transaction. We particularly appreciate the thorough and competent, yet pragmatic approach of the BDO team.”
The BDO team consisted of:
Tax Due Diligence and SPA Review:
With the acquisition of Ampack GmbH, based in Koenigsbrunn (Germany), and Osgood Industries LLC, based in Oldsmar (USA), the LEO III Fund successfully completed its first transaction on 31 July 2024. In the future, both companies will operate under the umbrella brand Ceratech Group.
Until now, Ampack GmbH and Osgood Industries LLC belonged to the Syntegon Group, a portfolio company of private equity firm CVC. With over 6,300 employees worldwide, the Syntegon Group specialises in processing and packaging solutions for the pharmaceutical and food industries. Ampack and Osgood develop forming, filling and sealing machines for cups and bottles used by dairies and food manufacturers to package liquid and viscous foods to the highest hygiene standards. Use cases include dairy products, yogurt, dips, and delicatessen salads.
The sale of the two subsidiaries will allow the Syntegon Group to focus on its core business in future. Torsten Tuerling, CEO of Syntegon, emphasised in this context: “I am convinced that Ampack and Osgood with their more than 2,800 machines installed at many customer sites around the globe will have a good chance for substantial and sustainable growth with DUBAG. We are glad to have found a new owner with a clear strategy to develop this already successful business further.”
BDO's Transaction Tax team provided full support to the Leo III fund in carrying out tax due diligence on Ampack GmbH and in drafting the tax contracts for the acquisition of the shares in Ampack GmbH and Osgood Industries LLC. DUBAG is thus once again relying on BDO's expertise for this transaction.
Marco Thoni (DUBAG) on the cooperation with BDO: “BDO was once again a reliable partner for us in all tax due diligence matters in this transaction. We particularly appreciate the thorough and competent, yet pragmatic approach of the BDO team.”
The BDO team consisted of:
Tax Due Diligence and SPA Review:
- Sandro Schwenke (Lead - Partner, Transaction Tax, Frankfurt, Germany)
- Julia Loncar (Senior Manager, Transaction Tax, Frankfurt, Germany)
- Miriam Pieczyk (Consultant, Transaction Tax, Frankfurt, Germany)
- Alexander Mayberry (Partner, Transaction Advisory Services, Atlanta, USA)