Argo advised Gimv and Down2Earth Capital in the sale of Contraload NV
|Argo advised longstanding clients Gimv and Down2Earth Capital (“D2E”), as lead counsel to the sellers, in the sale of Contraload NV, a leader in plastic pallet pooling in the United Kingdom and European Union, to Tosca, an American supplier of reusable packaging and supply chain solutions. Tosca is backed by funds advised by Apax Partners.
Contraload is headquartered in Aartselaar, Belgium and employs 155 people throughout the EU, Turkey and the UK. It posted sales of EUR 46 million in 2019. Since its inception, Contraload has invested more than EUR 75 million in cargo carriers, and will soon manage over three million assets that provide services to around 800 customers through a network of more than 4,000 collection points in Europe.
The transaction is still subject to customary closing conditions.