Infrastructure at Goldman Sachs Alternatives has signed a definitive agreement to acquire Tosca, a global provider of reusable asset pooling and supply chain logistics solutions, from funds advised by Apax Partners LLP.
Following completion of the transaction, Goldman Sachs Alternatives will invest alongside Tosca’s existing management team to support the company’s next growth phase. Capital deployment will focus on expanding the firm’s physical asset base, upgrading operational platforms, enhancing automation across wash centres, and deploying technology capabilities across North America and Europe.
Founded in 1959, Tosca was acquired by Apax funds in 2017. Under Apax’s ownership, the company expanded its international network serving food producers, distributors, and retailers with reusable containers and crates designed for circular supply chains.
Eric Frank, Chief Executive Officer of Tosca, welcomed the investment, highlighting Goldman Sachs Alternatives’ long-term approach to scaling asset-based businesses. Cedric Lucas and Charlotte Saury, senior executives within Infrastructure at Goldman Sachs Alternatives, emphasized that Tosca operates essential infrastructure at the intersection of automation, circular economy trends, and resilient food supply chains.
Ashish Karandikar, Partner at Apax, stated that the transaction marks a successful development milestone for the platform, expressing confidence in the incoming investor to guide Tosca’s future expansion.
Financial terms of the transaction were not disclosed. The deal is subject to customary closing conditions and regulatory approvals, with completion expected in 2026.
