Middle-market private investment company Highlander Partners has entered a definitive agreement to divest Polish cardboard packaging maker Akomex.
The financial details of the transaction have not been disclosed.
A minority shareholder and Akomex co-founder Sebastian Śliwa will jointly acquire the company with the management and support from Mezzanine Management advised fund AMC Capital IV.
The deal completion is subject to the Polish antimonopoly agency UOKiK approval.
Highlander president and CEO Jeff L Hull said: “Akomex is a perfect example of the patient capital approach that Highlander undertakes. We have owned Akomex since 2010, and we have significantly expanded its facilities and capabilities through capital investment, invested in professional management and completed very significant and strategic acquisitions.
“We are very pleased with the job that Grzegorz Łajca, president and CEO of Akomex Group and his team have done in making Akomex a leader in Central Europe. We wish them and Sebastian the best in their future endeavours. We believe that Akomex is very well-situated to succeed in the future.”
Highlander was represented by Rothschild & Co as its exclusive financial advisor while GESSEL served as a legal adviser.
Sebastian Śliwa and Mezzanine Management received transaction advice from CIC Corporate Finance and legal advice from Baker & McKenzie and Norton Rose. EY carried out a due-diligence analysis.
Based in Dallas, US, Highlander acquired Akomex in 2010.
Akomex has two manufacturing operations in Poland and a converting operation in Denmark. The facilities manufacture over 1.8 billion items a year.
Based in Poland, Akomex manufactures high-quality solid cardboard, leaflets, labels, trays and laminated sheets. The products are used in multiple sectors such as pharmaceutical, food, electronics, technology, personal care and home appliance.