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Capzanine invests in EOS Corrugated

European private investment fund Capzanine has made an investment in EOS Corrugate, joining the company’s existing management team and historical investor Eximium to support the group’s development.

Founded in 2013, following Rodicut’s acquisition of Bricq (formerly Voith Paper), EOS Corrugated is one of the world leaders in the production of technical consumables (polyurethane anvil covers, rotatory cutting dies, corrugated belts, and more), mainly for the corrugated cardboard industry. The group, which has 120 staff and a turnover of more than EUR20 million, enjoys international exposure with a presence in over 70 countries.
 
Capzanine is taking over the majority of the business’ capital and also carrying out a mezzanine investment alongside the management and the historical shareholder, Eximium. The operation is financed by a consortium of three banks: Crédit du Nord, Banque Européenne du Crédit Mutuel and Crédit Agricole Sud Rhône Alpes.
 
Internationally, the group shows significant growth opportunities, specifically in China and the United States, as well as in new adjacent markets (automobiles, ballistics, the mining industry), both by organic and external growth. This is why Capzanine wants to accompany the group and its director.
 
Maxence Radix, Managing Director of Capzanine, says: “EOS Corrugated has a recognised expertise and major positioning in a niche market which benefits from the growth of the corrugated cardboard market, notably due to the development of e-commerce and China. We are happy to be working alongside the teams during the next stages of the group’s development, all by being associated with Eximium, whom we know well and highly appreciate.”
 
Bruno Le Bourhis, CEO of Eximium, says: “The group originates from the merger of two companies with complementary offerings. The first, Rodicut, enjoyed a successful turnaround. The second, Bricq, was a sleeping beauty that we’ve revitalised. The group next experienced a restructuring and value creation period, allowing it to become a significant player in its market. We’re proud to have contributed to the group’s development by allowing it to double in size.”
 
“As involved shareholders, we’re convinced of the group’s potential and we’re delighted to write a new page of its history alongside Capzanine and the management team,” adds Céline Gasco Guénault, Eximium’s Investments Manager.
 
Philippe Ramirez, President of EOS Corrugated, says: “I’m happy to be able to pursue this adventure with Capzanine, which shares our vision of the market, and Eximium We will continue to capitalise on our experience in order to enter new development opportunities.”
 

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