H.I.G. Capital’s European arm, H.I.G. Europe has simultaneously acquired Vacumet Paper, a Massachusetts-based metallized paper manufacturer, from Scholle, and ARMetallizing, a Belgian metallized paper manufacturer, from Ackermans & van Haaren.
The combined group will become a major player in metallized paper used in the beverage and consumer packaged goods markets. At present, the group’s metallized paper is utilized as the base paper in gift wrap, consumer product packaging, food packaging, spirit labels, premium beer labels, as well as in several household brands, namely Hasbro and Coors light in the United States and Lurpak butter and Becks beer in Europe.
With more than €120 million in revenues, the group will distribute metallized paper from three production facilities located in the United States, Italy and Belgium, to customers worldwide. ARMetallizing’s Chief Executive Officer, Paul Van Emmerick, and Chief Financial Officer, Martin Raeymakers will lead the group. Raeymakers will continue to own a major stake in the business. This deal is the 21st new European investment of H.I.G. Europe since the start of 2011.
H.I.G. Europe’s Managing Director, Dr. Matthias Allgaier stated that the simultaneous purchase of Vacumet Paper and ARMetallizing strengthens the company’s capability to perform complicated transatlantic deals. Van Emmerick expressed his happiness about the completion of the MBO of ARMetallizing and the simultaneous Vacumet Paper acquisition with H.I.G. Europe.
H.I.G. Europe’s Mark Kelly informed that through this purchase, the company has now formed the global market leader in the niche consumer packaging segment. The company continues to provide its support to Paul and Martin in widening ARMetallizing’s global presence and increasing its product offering to neighboring consumer packaging goods markets.
Source: http://www.higcapital.com