Simpson Thacher is representing Tosca Services, LLC (“Tosca”) and Apax Partners, L.P. (“Apax”) in connection with Tosca’s agreement to acquire Contraload (“Contraload”). The terms of the transaction have not been disclosed.
In connection with the transaction, funds advised by Apax will commit additional capital to fund the acquisition of Contraload. Simpson Thacher represented funds advised by Apax in connection with the acquisition of Tosca in 2017 and in connection with Tosca’s acquisition of Polymer Logistics N.V. in 2019.
Headquartered in Aartselaar, Belgium, Contraload is a leading provider of upstream reusable plastic pallets and containers for the fast-moving consumer goods industry and other commercial markets in Europe. The company, which runs a unique Pan-European pooling service and employs more than 150 people, also offers outsourced pallet and layerpad conditioning and management services for customer-owned asset pools. Contraload was founded in 2004 and has approximately 3 million units in use, serving close to 3,000 companies.
Tosca is the largest reusable plastic crates pooler in North America, offering an enhanced product portfolio and the most extensive service center network for grocery retailers and suppliers. Tosca employs more than 1,236 people and operates 29 service centers worldwide.
The Simpson Thacher team includes Ben Schaye, Ryerson Symons, Mark Viera, Brendan Montgomery and Tarra Theisen (M&A - New York); Derek Baird and Alan Davies (M&A - London); Jonathan Goldstein and Sophie Staples (Tax); Leah Nudelman and George Dyesmith (Credit); David Vann, Sara Razi, Ellen Frye, Daniella Sinobad and Nicholas Ingros (Antitrust); Patricia Adams (ECEB); Lori Lesser, Genevieve Dorment and Corina McIntyre (IP); Steven DeLott (Insurance); Dennis Loiacono (Real Estate); and Michael Isby and Tim Mulvihill (Environmental). Associate Beth DiSciullo provided invaluable assistance.