Springwater picks up Adveo division for €16m

The deal saw Springwater purchasing the manufacturing and distribution activity of office supply company Adveo's processed paper assets.

Company
The carved-out division will trade under the Unipapel brand, and Adveo will continue to commercialise its products in national and international markets. Unipapel specialises in traditional office products.

The division's processed paper units are based in Tres Cantos (Madrid), Logrono and Aduana. Springwater has also purchased the company's reprinting business in France and workshops in Morocco. Furthermore, Springwater has acquired the division's commercial office in Portugal.

People
Millán Álvarez-Miranda Navarro is CEO of Adveo.

Advisers
Equity – DLA Piper, Ignacia Gomez-Sancha, Teresa Zueco, Remei Sanchez (Legal); PwC (Financial due diligence); BBVA (Corporate finance).
Vendor – Lazard Investment Bank (Corporate finance); EY (Financial due diligence); Marimon Abogados (Legal).

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• Turnaround/Special Situations
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