RDM to acquire solid board producer Eska Group

RDM to take over Eska
RDM to take over Eska
08 Jun 2021 − 

Reno De Medici (RDM) will acquire 100 per cent of the share capital of Fineska B.V., the Dutch holding company of Eska Group.

Reno De Medici has signed an irrevocable commitment to acquire 100 per cent of the share capital of Fineska B.V., the Dutch holding company of Eska Group. The seller, Andes C.V. is a vehicle controlled by the US investment firm Andlinger & Co.

Dutch Eska Group, based in Sappemeer, produces solid board based on 100 per cent recycled fibres at two plants in Sappemeer and Hoogezand, with an overall installed capacity of 290,000 tpy. Eska also operates three service centres with cutting and warehouse activities in the Unites States, Italy and Spain and has commercial offices in the UK and Hong Kong.

In the financial year ended on 31 December 2020 Eska’s sales totalled €149.7m, Ebitda stood at €24.6m and net profit at €12.7m. Net financial debt amounted to €2.5m on 31 December 2020.

The transaction closing is expected to occur no later than 31 July 2021, subject to consultation procedures in The Netherlands and the fulfilment of certain conditions.

Michele Bianchi, CEO of RDM Group stated: “This transaction is consistent with the growth strategy we had set forth. It offers us new development opportunities on a broader geographical scale, reinforcing the resilience of our group performances. Eska’s product line focuses on specialty grades, similar to the portfolio of our Ovaro mill. We aim at implementing the same strategic multi-mill approach that has yielded visible benefits in our core WLC business. Additionally, the integration of this new acquisition enables us to consolidate and accelerate the successful go-to-market strategy that Eska has applied to its customer value offering in recent years,” concluded Mr Bianchi.

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