PÖYRY PLC Press Release 5 July 2016 10.30am EEST
Pöyry Capital advises PHI Industrial Acquisition Partners on the sale of Abelan North
On 30 June 2016, PHI Industrial Acquisition Partners completed the sale of Abelan North to the Aurelius Group. Pöyry Capital acted as financial adviser to PHI Industrial Acquisition Partners.
Abelan Group's German and Dutch packaging activities, "Abelan North", manufacture solidboard, coreboard and solidboard packaging, supplying demanding food and personal care clients with high quality packaging and coreboard solutions. With the acquisition, Aurelius continues to expand its growth strategy in the packaging sector. The company has become a leading force in the Western European solidboard packaging market.
Alexander Wit, Managing Partner of PHI Industrial acquisition partners said: "We are proud of the excellent turn-around that the Company's management team and PHI has achieved in Abelan North since our acquisition from the Newark Group. We believe that Solidus is the ideal owner of Abelan North and will now be able to expand its regional footprint and invest in its operations and employees
In its press release, Aurelius said "This transaction creates potential synergies across production, purchasing and sales with AURELIUS portfolio company Solidus Solutions. Solidus is one of Europe's leading manufacturers of Graphic board and printed solidboard with production facilities in the Netherlands, Belgium, and the UK. AURELIUS acquired Solidus in April 2015."
Celedonio Moncayo, Managing Director at Pöyry Capital, commented, "We are thrilled to announce this closing. PHI has done a tremendous job in improving the Company's operations and expanding its solidboard packaging products. We thank PHI for selecting us to help them through this sale process. We believe that Abelan North is a good complement to Solidus Solutions by expanding its product portfolio and solid board laminating know-how capabilities. Solidus Solutions is now well positioned to expand its sales in Germany and other Central European geographies."
Pöyry Capital is the investment banking advisory arm of the Pöyry Group focusing on transactions in the energy, forest products and packaging industries.
The success fee earned from this transaction will be recognised within the Management Consulting Business Group order stock in Q2/2016.
Additional information by:
Celedonio Moncayo
Managing Director, Pöyry Capital, London
Tel +44 20 7479 4003
Rebecca Bleasdale
Head of Communications
Pöyry PLC
Tel +44 7969 981163
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2015 were EUR 575 million and the company's shares are quoted on Nasdaq Helsinki (Pöyry PLC: POY1V).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire
