One Equity restructures Dutch plastics group

One Equity Partners, the private equity arm of JPMorgan Chase & Co, has carried out a financial restructuring of Schoeller Arca Systems, a Dutch plastic packaging group it bought last July.

White & Case, a global law firm, was brought in to advise on a financial restructuring. According to reports, parent company Schoeller has increased its 31% equity stake to 40% alongside a €342m debt financing from Citi and JPMorgan, including a €180m bridge loan to be refinanced with high-yield bonds.

The equity tranche of the restructuring comprised €52m from One Equity Partners and €34m from Schoeller. One Equity Partners paid European mid-market firm Stirling Square Capital Partners €428m for Schoeller Arca Systems.