A team of lawyers from King & Spalding’s London and Frankfurt offices has represented Circular Resources SARL on the financing package for its purchase of 100% of the interests in leading German waste management group DSD - Duales System Holding GmbH & Co. KG (DSD) and the group of companies with Der Grüne Punkt.
Circular Resources provides a one-stop-shop for the recycling of plastic waste. The companies acquired include Der Grüne Punkt – Duales System Deutschland GmbH, which operates one of the leading dual systems for the collection and recycling of used sales packaging in Germany, as well as Systec Plastics GmbH with its production facility in Hörstel and Systec Plastics Eisfeld GmbH, which produce high-quality recyclates for the plastics and packaging industry from plastic waste collected in the German yellow bag and yellow garbage can.
The deal is expected to unlock further synergies between mechanical and chemical recycling of plastic waste in Europe that will allow plastics currently being lost from the value chain to be brought back into the recycling loop. More details can be found here.
The K&S team involved the firm’s London and Frankfurt offices. The London finance team was led by partner Benoit Lavigne and included counsels Andrew Brown and Kevin Gilroy and associate Cameron Storah. London partners Daniel Friel and Robert Dedman provided tax and regulatory advice respectively.
The Frankfurt financing team was led by partner Sebastian Kaufmann, with associate Florian Geuder, and partner Axel Schilder providing tax advice.