GED's Envases Soplados buys Espaçoplas

With this bolt-on, Enso intends to further comsolidate its presence across Iberia and create a platform in the PET bottle production market.

GED acquired a majority stake in Enso in January 2018 via its fifth fund. The vehicle, which held a final close on €150m in December 2017, is now fully deployed across seven companies (Procubitos Europe, Discefa, Araven, GTT, Vitro, Enso and Eliance). 

Based in Andújar, Spain, Enso manufactures PET containers for the food sector, primarily for honey, coffee, spices, cookies and pickles. Following this last add-on, the group expects to reach revenues of €40m.

Company
Founded in 2002 and located in Marinha Grande, Espaçoplas specialises in the production of bottles and jars made of PET (polyethylene terephthalate), a thermoplastic resin, for the food, cosmetic, pharmaceutical and chemical industries.

The company sells its products in Portugal, France, the Netherlands and the UK, and generates annual revenues of around €10m.

People
GED Capital - Enrique Centelles Satrústegui (managing partner).
Envases Soplados - Eugenio Real (CEO).

Advisers
Acquirer -  PLMJ (legal); Baker & Mckenzie (legal); Mazars (financial due diligence).

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