Actis sells Inpac International to Stora Enso
Actis, a private equity investor in the emerging markets, has signed an agreement to sell its 30 per cent interest in Inpac International, a printed paper packaging manufacturer in China, to Stora Enso, a paper, packaging and wood products company.
Inpac services the demand from multinational companies to outsource packaging to local companies.
Actis began its relationship with Inpac in 2007 with an investment of USD17.71m of growth capital, which helped the company strengthen its operations and increase sales.
Meng Ann Lim, Actis partner and regional head - China and SE Asia, says: "Inpac's sales have doubled since we invested in 2007; Mr.Guo's entrepreneurial drive and business acumen contributed to this growth. Actis has been privileged to fund Inpac's growth and help Inpac upgrade its operations and governance. We are gratified that our efforts to work with management and other shareholders have resulted in a strong company well recognised by Stora Enso."