Home | Site Map | Disclaimer about us | our approach | investments | our team | investor login | contact us Since its creation in 1992, LPR has become Europe's No. 2 pallet pooling operator. Exclusively dedicated to the fast-moving consumer goods sector, LPR handles more than 40 million pallet movements a year and a total pool of over 10 million pallets. With subsidiaries in seven countries, LPR offers an end-to-end delivery and collection service throughout Western Europe. It has a network of 80 depots and collects pallets from 20,000 drop-off points across Europe. LPR works with the principal manufacturers of fast-moving consumer goods in Europe including Nestlé, Kimberly-Clark, Coca-Cola, Heineken and Kellogg's, and with all major retailers in the mass-distribution sector. Transaction LPR was an independent entity that was purchased as a part of Algeco in 2004. Following our acquisition we separated the operations of LPR from Algeco and set up stand-alone financing facilities. We concentrated on controlling costs and optimising growth and in 2006 the business was sold to AtriA Capital. Investment Overview When we bought it, LPR was in a difficult position, although the underlying business with its well-invested infrastructure and list of blue-chip clients had potential to generate positive cash flow and a high return on capital. We immediately began a restructuring programme and cut the number of markets and customers on which the company focused. The team also implemented an improved inventory management programme, which significantly improved collection rates of pallets. We helped LPR improve its asset control and implement pricing increases. Later on we led the successful expansion into the UK market. Geography: France Realised Result: IRR: 175%, Multiple: 7.8x Website: http://www.lpr.eu/ © TDR Capital LLP 2021

Home | Site Map | Disclaimer about us | our approach | investments | our team | investor login | contact us TDR Capital has a team of 24 professionals with a range of prior investment, finance, consulting and business experience. Together, our Investment and Operating Professionals target new opportunities, develop innovative financing structures and help management of portfolio companies to optimise performance. Partners Manjit Dale Stephen Robertson Jonathan Rosen Blair Thompson Brian Magnus Diarmuid Cummins Thibaut Large Investment Professionals Mark Budd Justin Fernandez Matt Lenczner Gary Lindsay Mark Stephens Marc Meunier Operating Professionals Steve Greer Steve Headington Jim Moore Philip Rowland Julian Seaward Giles Thorley Other Professionals Timothy Bell Cat Kipling Tom Mitchell Alana Richardson © TDR Capital LLP 2021