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Aurelius to divest solid board and packaging producer Solidus Board

01 Jul 2019 − 

Aurelius to part with its investment in Solidus Solutions after five years. The sale will increase Aurelis' 2019 earning by €102m.

The investment company Aurelius Equity Opportunities has entered into an agreement to sell the solid board and packaging company Solidus Solutions to Centerbridge Partners L.P. for an enterprise value of €330m. The transaction is subject to approval of the relevant competition authorities and the completion of consultation with the company's central works council in the Netherlands.

According to Aurelius, the sale is expected to close in the third quarter of 2019 and will have a positive impact of approximately €102m on Aurelius' 2019 earning.

Solidus Solutions specializes in recovered fibre-based graphic board and solid board packaging for food, beverage, horticulture, consumer products and industrial applications.

Aurelius acquired the Dutch-based board and packaging Solidus Solutions in 2015 from Smurfit Kappa Group. Over the following years,  Fibor Packaging, Abelan South, and Northern Paper Board were acquired and integrated into the Solidus Solutions group, extending the company's operations into France, Germany, Spain and the UK.

This article is part of our free coverage on the papckaging paper and board industry in Europe.

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