HIG Europe, the European arm of private equity firm HIG Capital, has completed the acquisitions of ARMetallizing, a Belgium based manufacturer of metallized paper, from Ackermans & van Haaren and Vacumet Paper, a Massachusetts based manufacturer of metallized paper, from Scholle.
The combined group aims to be the global market leader in metallized paper for use in the beverage and consumer packaged goods markets.
The group’s metallized paper is currently used as the base paper in premium beer labels, spirit labels, food packaging, consumer product packaging and gift wrap, and can be found on many household brands such as Becks beer, Lurpak butter in Europe, and Coors Light and Hasbro in the US.
With revenues in excess of EUR120m, the group will supply clients globally from three manufacturing facilities in Belgium, Italy and the US and will be led by ARM’s chief executive Paul Van Emmerick and chief financial officer Martin Raeymakers, who will retain a significant shareholding in the business.
Matthias Allgaier, managing director of HIG Europe, says: “The simultaneous acquisitions of ARM & Vacumet reinforces HIG’s ability to execute on complex transatlantic transactions; over the coming years, Paul and his team will leverage HIG’s presence across Europe, the US and South America to grow the business organically and through bolt-on acquisitions.”
Van Emmerick says: “We are very pleased to have completed the MBO of ARM and the simultaneous acquisition of Vacumet Paper with HIG Europe. With HIG’s backing, we have already taken a major step in being able to supply our customers’ global packaging needs."
This transaction represents HIG Europe’s 21st new European investment since the beginning of 2011.
