Eos-backed Poplast bolts on FM Plastic

This is the second bolt-on inked by the business, following the acquisition of industrial packaging specialist Sala in October 2017. Poplast expects to reach revenues of €60m and employ 170 people by the end of 2019.

Eos IM acquired an 86.5% stake in Italian packaging manufacturer Poplast via its maiden fund, Eos Private Equity, in an all-equity transaction closed in November 2016.

The fund held a first close on €55m in November 2016 and expects to reach a final close on €75m in the coming months.

Company
Founded in 1969 and based in Lamporecchio, near Pistoia, FM Plastic specialises in flexible packaging for the food and beverage industry. The company recorded revenues of €10m in 2018. Its clients base includes Italian and international brands, such as Foxy, Tesco, Pata, Sainsbury’s and Fabianelli.

People
FM Plastic - Pierangelo Fantoni e Carlo Callegari (co-CEOs).
EOS Investment Management - Ciro Mongillo (CEO).

Advisers
Equity - Grimaldi Studio Legale (legal); Goetz & Partners (corporate finance); Deloitte (financial due diligence); KPMG (ESG due diligence).
Company - Russo De Rosa Associati Studio legale e tributario (legal, tax).

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• Topics
• Expansion
• Southern Europe
• Industrials
• Italy
• Build-up
• Buy-and-build
• KPMG
• Deloitte