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TRANSACTION November 2017

PHI Industrial Divestitures

PHI Industrial Acquisitions has sold the commercial activities of the Abelan Group in Spain and France to Aurelius.

  • The business comprises a solid and core board mill in Spain and converting facilities in Spain and France generating a revenue of approx. EUR 70m.
  • PHI acquired the Abelan Group from Newark in December 2012. Since this acquisition, PHI has carried out rigorous improvement programme based on investments in assets and people and materially increased Abelan’s profitability.
  • The transaction will generate important synergies to Aurelius, which acquired Europe’s leading manufacturer of graphic board and printed solid board, Solidus, in April 2015. It also is the first investment of Aurelius in the core board market.
  • Pöyry Capital acted as the exclusive financial advisor to PHI Industrial Acquisitions on this sale.
  • This is the second transaction that we have carried out for PHI after having successfully carved out their Northern European solid board packaging business in a separate transaction in 2016.

Contact information

Celedonio Moncayo-Quiros
Head of Pöyry Capital (Forest Industry and Packaging Investment Banking)