TRANSACTION December 2017
Bain Capital Acquires Fedrigoni
Bain Capital, a leading global private equity investor, has announced an agreement to acquire a majority stake in the Italian speciality and commodity paper business Gruppo Fedrigoni for an undisclosed consideration. Gruppo Fedrigoni recorded €1.1 billion of Sales in 2016.
Gruppo Fedrigoni is active in the following 3 segments:
Paper: the division active in the production of graphic, creative and office paper. These types of paper can be used for various applications including special luxury packaging, art and drawing, premium publishing and commodity office paper
Security: the division active in the production of high security documents paper, passports and banknotes as well as the related security features needed for identification and anti-counterfeiting purposes
Converting: the division active in the production of self-adhesive papers cut for the manufacturing of Pressure Sensitive Labels. These types of labels are used for applications in the wine & spirits, premium cosmetics and pharma, premium beers and edible oil
Pöyry Capital acted as financial adviser to Bain Capital. Our work included the benchmarking of Fedrigoni’s divisions against its major competitors in each market, mapping bolt-on targets, actionability analysis and valuation.