Aurelius Equity Opportunities has confirmed the acquisition of Abelan Board Industrial S.L., ther producer of core board and solid board packaging products operating out of Southern Europe, from PHI Industrial. The deal represents Aurelius’ third acquisition in the European packaging sector since 2015 and will further strengthen the Group’s operations in this market. The financial terms of the deal are undisclosed; completion of the transaction remains subject to clearance of customary conditions.
Founded in 1911, Abelan is one of Europe’s leading providers of core board and solid board packaging solutions and is headquartered in San Andrés in northern Spain, employing 250 people across three manufacturing facilities in Spain and France. It is projected to generate revenues of approximately €70m in 2017. Abelan has two key areas of expertise: the production of core board, for tubes, boxes and other applications and its solid board packaging division, which supplies a large variety of boxes and trays to major distribution brands in the European agricultural, meat, flower and various other industries.
Managing Director of Abelan, Simón Roda, will continue to lead the Company. Following completion of the deal, the operations of Abelan will be combined with those of AURELIUS investee company Solidus Solutions, one of Europe’s leading producers of solid board, graphic board and solid board packaging with 1,000 employees. Solidus already has significant market share in Europe with production facilities in the Netherlands, Belgium and the UK, having integrated its sites after Aurelius acquired the Northern European activities of Abelan in June 2016, as well as dedicated sales offices in France and Norway.