SK Capital Partners, through its affiliates, has signed a strategic investment to acquire a majority interest in Italian water-soluble and biodegradable films manufacturer Ecopol.
SK Capital is a US-based private investment company that focuses on the speciality materials, ingredients, and life sciences sectors.
Following this deal, Ecopol CEO and controlling shareholder Mauro Carbone will continue to retain a significant stake in his company and will continue to serve as the CEO and largest individual shareholder of Ecopol.
The existing minority investor, global alternative asset management group Tikehau Capital, will also retain its minority stake.
The completion of this transaction is now subject to the fulfilment of certain customary regulatory conditions and approvals.
Carbone said: “SK Capital is the perfect partner for Ecopol given its differentiated industry expertise, strong experience in the North American market and track record of successful partnerships with entrepreneur-led businesses.”
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SK Capital’s legal counsel for this transaction was Latham & Watkins while Legance alongside Alpeggiani Studio Legale Associato served as Ecopol’s legal counsel.
STS Deloitte and UBS acted as the tax and financial adviser to Ecopol for this acquisition.
The lead arrangers, including Crédit Agricole Italia and Intesa Sanpaolo, were responsible for providing committed financing to support the transaction.
Ecopol is headquartered in Chiesina Uzzanese, Italy, and specialises in manufacturing biodegradable films and delivery systems. It has production facilities in both the US and Italy.
The company said it is expecting rapid growth in the coming years, due to the increasing demand for innovative films by its customers to minimise their respective carbon emissions, plastic packaging, and water usage across the supply chain.
Last year in April, Ecopol announced a key investment for developing its first North American facility in Spalding County, Georgia.
SK Capital’s senior director Daniele Ferrari said: “We see tremendous opportunity for Ecopol to expand within its existing end markets and leverage its core competencies in biodegradable films to enter new applications, which will experience significant tailwinds as brand owners and consumers seek more sustainable solutions.”