After around 11 years of cooperation, German distribution company Biesterfeld (Hamburg; www.biesterfeld.com) which also includes Biesterfeld Plastic has bought back the 28.6% share held by compatriot private equity company Hannover Finanz. This means that all the shares of the plastics and chemicals distributor have returned to the ownership of the Biesterfeld family. Financial details of the transaction were not disclosed.

Jürgen von Wendorff, managing director of Hannover Finanz said that from the beginning it had been agreed that the family would buy back the stake.

The company, which employs more than 900, most recently posted group sales of over EUR 1 bn. It changed its business unit structure at the beginning of this year and has since been operating with five divisions instead of the previous three (see Plasteurope.com of 02.02.2021).