IK appoints Baird for Optimum Group exit

IK is working off more than EUR 30m in EBITDA for the company, one of the sources, one of the bankers and a third banker following the situation said. Optimum generates around EUR 150m in revenue, one of the sources and a fourth banker following the situation said.

IK has owned Optimum since backing a 2017 buyout from Mentha Capital for an undisclosed sum. Optimum has since pursued a buy-and-build strategy. Last year, it hoovered up Germany-based Etiket Schiller and Denmark-based Etiflex, Odense Seglmaerkefabrik, Scanket and Labelsupply, all for undisclosed sums.

IK, Optimum and Baird did not respond to requests for comment.

Optimum’s selling points include its track record as a sector consolidator, one of the sources and one of the bankers said. The company could whet the appetite of industry players, one of the sources and two of the bankers said. In particular, Optimum could make a transatlantic expansion play for a US industry major, one of the sources and one of the bankers said.

Alternatively, Optimum could also be a buyout candidate, one of the bankers suggested. With sponsor backing, Optimum could pursue a fresh burst of acquisitions, he added.

Optimum’s offering includes self-adhesive labels, tapes and packaging. Customers include retailers, cosmetics producers and chemical companies.

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• Topics
• Exits
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• Benelux
• IK Investment Partners
• Robert W. Baird
• Netherlands