Orlando buys Paper Systems

The deal was struck shortly before the firm's latest vehicle, Special Situation Venture Partners III, closed on €231m on March 29.

The value of the deal is undisclosed but the firm typically invests €10-20m of equity per deal.

Orlando plans to work with the existing management to develop the division's product range and expand the business in emerging markets.

A merger of the division's companies has also been announced by the Austrian Competition Authority.

Company
The Paper Systems division comprises three companies: E.C.H. Will GmbH, Kugler-Womako GmbH and Pemco Inc. They manufacture and supply machines and products for the paper converting industries.

It also includes two distribution companies, Körber PaperLink Amerika Latina Ltda. and PT Körber Paperlink Far East.

The businesses have bases in Germany (Hamburg and Nürtingen) and in the US (Sheboygan, Wisconsin). Together they employ around 450 staff.

People
Dr Henrik Fastrich and Georg Madersbacher are founding partners at Orlando Management.

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• Orlando Management GmbH