Global private equity firm HIG Capital's European arm HIG Europe has completed the acquisitions of ARMetallizing and Vacumet Paper for an undisclosed sum.
Belgium-based ARMetallizing, which manufactures metallised paper, was acquired from Ackermans & van Haaren and Vacumet Paper in the US was bought from Scholle.
The merged group has revenues in excess of €120m and will supply metallised paper from three manufacturing facilities in Belgium, Italy and the US, for use in the beverage and consumer packaged goods markets.
The group's metallised paper is now used as the base paper in beer labels, spirit labels, food packaging, consumer product packaging and gift wrap for household brands including Becks beer, Lurpak butter in Europe, and Coors Light and Hasbro in the US.
ARMetallizing chief executive Paul Van Emmerick said the company has already taken a major step in being able to supply its customers' global packaging needs, with the support from HIG.
"We are very pleased to have completed the MBO of ARM and the simultaneous acquisition of Vacumet Paper with HIG Europe," Emmerick said.
Mark Kelly of HIG Europe, commenting on the deal, said, "We look forward to supporting Paul and Martin in expanding ARM's global footprint and extending the company's product offering into adjacent CPG markets."
The latest deal is HIG Europe's 21st new European investment since the beginning of 2011.
HIG Capital has more than £7bn of equity capital under management, and its current portfolio includes more than 80 companies with combined revenues in excess of £8bn.