H.I.G. Europe has strengthened its presence in Europe and the USA by taking over two leading producers in the metallised paper sector.
H.I.G. Europe, the European arm of global private equity investment company H.I.G. Capital, has taken over Belgian company Armetallizing (ARM) from Ackermann & van Haaren as well as US company Vacumet Paper from Scholle Corporation. According to H.I.G Europe, both companies manufacture metallised paper and have a leading market position in Europe and the USA respectively. The company added that the takeover would make the investment firm a global market leader in metallised paper for use in beverage and consumer packaging.
The combined group is to operate three sites in Belgium, Italy and the USA and supply customers globally. H.I.G. Europe expects revenues to amount to over €120m. Paul Van Emmerick and Martin Raeymakers, CEO and CFO for ARM, are to lead the company.
H.I.G. Europe announced that the company would leverage its presence across Europe, the US and South America over the coming years. The company said it aimed at growing the business organically and through bolt-on acquisitions.
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