Solidus Solutions acquires two Spanish core and tube converters Mayensa and Valtub

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Solidus Solutions acquires two Spanish core and tube converters Mayensa and Valtub

November 18, 2019 - 09:22
    OUDE PEKELA, The Netherlands , Nov. 18, 2019 (Press Release) -
  • Deal represents Solidus Solutions’ first acquisition in the European packaging sector since the acquisition by Centerbridge Partners
  • Strategic investment to further integrate Solidus Solutions‘operations and broaden the product portfolio
  • The deal was signed and completed on the same date.

Solidus Solutions (“Solidus”), one of Europe’s largest sustainable fibre-based packaging solutions providers for consumer goods and industrial applications, today announces the acquisition of Mayensa S.L. (“Mayensa”) and Valtub S.L. (“Valtub”), two Spanish converters of cores and tubes. The financial terms of the deal will not be made public.

Following the completion of the deal, the operations of Mayensa and Valtub will operate alongside Solidus. This deal further strengthens the Solidus’ operations in the European packaging sector.
Mayensa and Valtub are located in Spain. Mayensa is situated in Berrobi (north of Pamplona) and Valtub is situated in Cox (close to Alicante). Their product portfolio includes cores and tubes for the industrial market. These cores and tubes are produced from coreboard, which after integration with Solidus, will be delivered to the two converters by Solidus mills in San Andrés (Spain) and Bad Nieuweschans (the Netherlands).

Solidus’ acquisition of Mayensa and Valtub enables the group to further optimize its service to customers, to offer a broader product portfolio and to strengthen its European growth. “The acquisition of Mayensa and Valtub is important for us as it further strengthens our position in southern Europe,” commented Richard Houben, CEO of Solidus Solutions. “In addition, this strategic investment enables us to take another important step in the further vertical integration within our group.”

ABOUT SOLIDUS SOLUTIONS

Solidus Solutions is a leading fibre-based sustainable packaging producer in Europe. It operates from multiple locations across seven European countries: the Netherlands, Belgium, France, Germany, Spain, Portugal and the UK, using state-of-the-art manufacturing capabilities to produce and convert a diverse range of solid board, graphic board and coreboard products, which it sells to customers in 70 countries worldwide.

ABOUT CENTERBRIDGE

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for our investors and business partners. The Firm was founded in 2005 and as of June 30, 2019 has approximately $27 billion in capital under management with offices in New York and London.