CapMan backs Walki acquisition of Meuwissen

The deal was supported with additional equity from CapMan's eighth buyout fund and debt from an undisclosed source, amounting to a "substantial add-on investment" in the portfolio company. No further details about the transaction have been disclosed.

The acquisition of Meuwissen will allow the company to increase its local coverage of Central European markets. The Meuwissen companies will be integrated into Walki's technical products business.

CapMan took a majority stake in Walki in March 2007, with the intention to grow it organically and through add-on acquisitions. It currently holds an 87.15% stake in the company. CapMan partner Anders Björkell stated that it will consider further acquisitions for Walki and that it has some specific targets in mind.

Company
Meuwissen Industrie and Meuwissen Bouwprodukten, founded in 1954, manufacture products for the construction, building and industrial packaging markets. Based in Haarlem, Netherlands, the companies employ around 65 staff. Net sales amount to €21m.

Walki Group, founded in 1996, produces technical laminates and protective packaging materials for paper and metal industries. It has production sites in Finland, Sweden, Germany, Poland, the UK and China, employing 1,003 staff. The company has recorded net sales of €294.4m.

People
Partner and case responsible for Walki Group Anders Björkell, investment manager Sebastian Schauman and investment analyst Antti Karppinen worked on the deal for CapMan. Leif Frilund is the CEO of Walki.

Advisers
Management – Roschier (Legal); Houthoff Buruma (Legal); Ernst & Young (Financial due diligence); Boston Consulting Group (Business due diligence); Golder Associates (Environmental due diligence).

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• Topics
• Industrials
• Buyouts
• Nordics
• Benelux
• CapMan
• Finland
• Netherlands