Latour buys Omni-Pac from Motion Equity and Arkéa

Following the deal, Motion has reinvested in the company and retained a minority stake.

The deal values the company at around €250m, equal to around 12x EBITDA, according to press reports.

Motion has owned a majority stake in the business since 2014, when it invested in the company alongside Arkéa. Under Motion and Arkéa’s ownership, Omni-Pac expanded internationally, grew both organically and via new acquisitions and increased its revenues from €30m in 2014 to €110m in 2020.

In November 2020, Motion appointed financial adviser Amala Partners to run the sale of the company, which attracted several private equity houses, according to press reports.

Previous funding
Packaging company Cellulose de la Loire (CDL) span out from French packaging group Onduline in 2007, shortly after the acquisition of the latter by ABN Amro Capital France and Astorg in 2006. The spinout was backed by Cerea Capital and Unigrains.

Motion and Arkéa acquired CDL in 2014 from Cerea Capital and Unigrains. The deal saw Motion buy a majority stake and Arkéa acquire a minority holding. The GPs invested alongside the company’s management team, with the ambition to back the business’s international expansion project. LCL and Crédit Agricole provided a senior debt package to support the acquisition, while Cérea Mezzanine deployed a mezzanine facility. The deal gave the company an EV of around €50m, according to press reports at the time.

Subsequently, CDL bought German company Omni-Pac in 2016 and rebranded as CDL Omni-Pac. More recently, the group bolted on British packaging specialist Moulded Fibre Products (MFP) in 2020, strengthening its distribution network and boosting its expansion across Europe. In September 2020, the company rebranded as Omni-Pac Group.

Company
Omni-Pac Group specialises in manufacturing moulded fiber packaging (produced from recycled paper and cardboard) for the food and healthcare industries.

In addition, the company offers tailor-made packaging solutions for industrial, e-commerce and agrifood businesses.

Employing 600 staff across three sites located in Allaire (France), Elsfleth (Germany) and Scunthorpe (UK), the group generates annual revenues of €110m.

Omni-Pac sells its products primarily in Europe, across France, Germany, the UK, southern Europe, and the Benelux and Nordic regions. In addition, the company has recently entered new markets and geographies, including the Middle East, Africa, and North and South America.

People
Omni-Pac Group – Renaud Malarre (CEO).
Motion Equity Partners – Cédric Rays (partner).

Advisers
Acquirer – Cleary Gottlieb Steen & Hamilton (legal); Eight Advisory (financial due diligence); Bain & Co (corporate finance); Canaccord Genuity (corporate finance).
Vendors – GCA Cabinet d’Avocats (legal); Amala Partners (corporate finance); Natixis Partners (corporate finance); PwC (financial due diligence).
Company – Scotto Partners (corporate finance, tax).

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• Topics
• Buyouts
• France
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• Motion Equity Partners
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• Natixis
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