Bencis-backed Abriso eyes Airpack

Francesca Veronesi
01 May 2019

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Bencis Capital Partners' Abriso, a Belgium-based foam and extruded polystyrene producer, has expressed its intention to acquire at least a 50% controlling stake in Italy-based Airpack, according to a regulatory filing registered with the German competition authority on 26 April.

Bencis acquired Abriso from its family shareholders for an undisclosed sum in 2016, while management reinvested into the new structure, taking a minority position. The GP used its €425m Bencis Buyout Fund V fund for the transaction.

Abriso, headquartered in Anzegem, specialises in the extrusion of polyethylene foam, air bubble film and extruded polystyrene for the packaging and building industries. Founded in 1985, today it operates seven production units in Belgium, France, Slovakia, Poland, Romania, Ukraine and Hungary. According to the Bencis website, the company generates a €104m turnover.

The company's products are used across a wide range of industrial markets such as the automotive, electronics, healthcare, food and construction sectors and the e-commerce sector.

Lodi-headquartered Airpack is a producer of polyethylene bubble wrap film. The company reached turnover of €130m in 2016 after it acquired the Germany-based packaging firm TAP, according to its website.