Osborne Clarke advises Mpac Group plc on its €56 million acquisition of CSi Palletising and its associated equity and debt fundraising

An international team at Osborne Clarke has advised Mpac Group plc, the AIM quoted global leader in high-speed packaging and automation solutions, on the conditional acquisition of Elstar International B.V., a leading provider of design, manufacturing and installation services for end-of-line automation and palletising solutions, which operates under the name CSi Palletising. 

Completion of the acquisition is conditional upon, amongst other things, it having been unconditionally authorised from a national security perspective by a decision of the Romanian Competition Council and approval of certain resolutions by Mpac's shareholders.

Osborne Clarke also acted for Mpac on its significantly oversubscribed £29 million placing and its £1 million retail offer. Mpac proposes to use the net proceeds of the placing to fund part of the cash consideration element of the acquisition.  The balance of the cash consideration will be satisfied from Mpac's new £12 million term loan and £35 million revolving credit facility from HSBC on which Osborne Clarke also advised.

Osborne Clarke fielded a large international team including:

• Netherlands: Herke van Hulst, Wouter Kok, Casper Schnepper, Levi Schutz, Saliha El Morabit (Corporate/M&A), Axel van der Staak, Anouk Lanting (Banking),  Jim Margry, Sabine van Baren, Merel Keijzer, Maartje Tan (Employment), Job van der Pol, Sjoerd Waagmeester (Tax), Coen Barneveld Binkhuysen, Gianna Hendriks, Phillipe Helder, Dewi Harkink (Commercial/ IP), Bas Beenen, Benthe Janssen, Charlie van der Star, Florine Roos (Real Estate), Joanne Zaaijer, Doddy Wolfs (GDPR) and Johannes de Jong (Regulatory).
• UK: Louise Grzasko, Stuart Miller, Rebecca Ewing, Liam O'Connor (Corporate/M&A/ECM), Ben Truman, Clara Hutchison, Saskia Zant-Boer (Banking), Simon Neill, Marc Shrimpling and Freddie Carter (Competition).
• Germany: Philip Meichssner, Lorenz Chwaszcza and Johanna Baumann (Corporate/M&A).
• Belgium/Netherlands: Roderick Nieuwmeyer (Competition).

In addition, Osborne Clarke also worked with relationship firms in Romania, Canada, Mexico and the United States.

Duncan Tyler, Corporate Development Director at Mpac, said: “A huge thank you to the entire team at Osborne Clarke for its support across all aspects of this transformational transaction and for the strong relationship we have formed along the way”.

Osborne Clarke's International Corporate Group is considered a go-to practice for many companies, working with global businesses in a range of sectors, including TMC. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.