
Highlander exits Akomex in management buy-back
Highlander Partners is in the process of selling its stake in Poland-based packaging manufacturer Akomex Group to its co-founder and minority shareholder Sebastian Śliwa, backed by Mezzanine Management.
The transaction is subject to approval from local authorities.
Sebastian Śliwa and a group of managers will collectively hold a 69.5% share of the business.
Mezzanine Management is currently investing from its AMC IV fund, which closed on €264m in 2018 and is the firm's largest vehicle to date. The fund provides mezzanine financing to small-cap and mid-market businesses in central Europe, and deploys around €10-30m per deal.
The transaction follows an auction process that was initiated in September 2019.
Previous funding
Highlander bought a 53% stake in Akomex from Sebastian Śliwa in 2010. The company has since made two major add-ons, Polish DrukPak in 2014 and Danish Plano Pack in 2018.
Company
Founded in 1993 and headquartered in Starogard Gdański, Akomex specialises in cardboard packaging for the pharmaceutical and food sectors. The firm employs nearly 600 people across its two production plants in Poland and converting site in Denmark, producing 1.8 billion packaging units per year. The group generates revenues of more than €47m per annum, with estimated EBITDA of €10m.
People
Akomex Group – Sebastian Śliwa (co-founder, chairman of the supervisory board).
Mezzanine Management – Piotr Sadowski (partner).
Advisers
Vendor – Rothschild (corporate finance); Gessel (legal).
Equity, Management – CIC Corporate Finance (corporate finance); Baker & McKenzie (legal); Norton Rose (legal); EY (financial due diligence).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater