ICG invests in Loparex

Information regarding the value of the investment has yet to be made public.

This investment will be the last by ICG Europe Fund V, a vehicle with a five-year lifespan that closed on €2.5bn in January 2013, 18 months after it was launched.

The fund specialises in providing subordinated debt instruments to mid-market European businesses; the portfolio includes UK-based travel management company ATPI, acquired from Equistone in 2012.

The funding round comes 10 years after Loparex was sold by Finnish paper manufacturer UPM-Kymmene to ABN Amro Capital, which acquired a majority stake at the time in a €230m deal.

In 2008, the company sold its plants in Finland and the UK to South African paper producer Mondi's coating division.

The paper manufacturer went on to refinance its existing debt in 2011 with a €145m five-year loan by Rabobank, ABN Amro, Bank of America and HSBC.

Company
Founded in Finland in 1905, Loparex Group manufactures and supplies poly-coated and silicone-coated papers and films for pressure-sensitive adhesive applications. Currently based in Apeldoorn in the Netherlands, the firm has additional offices in the US, Europe, China, and India.

People
ICG was represented by its managing director and head of European investments Benoit Durteste. Michael Apperson is CEO at Loparex.

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• Topics
• Benelux
• Industrials
• Expansion
• Netherlands