Atena buys Prado Karton

Finpro was compelled to sell the asset after going into administration. Atena acquired the company via an auction process organised by M&A advisers Caixa BI and Banif. The GP hopes to close the deal by the end of the month.

Prado's production came to a halt last year, but Atena hopes to restart activity as soon as the deal is closed. The GP wants to bring the business back on track by refocusing on its core product, which is packaging cartons made from pulp. The company's CEO, Manuel Cavaco Guerreiro, will resume his position.

Atena has currently no plans to reduce the staff numbers, but will make final decisions on its strategy depending on the sales level in two to six months.

Alongside Prado, Atena acquired a second company from Finpro: Prado Cartolinas da Lousã, which is located in Lousã and produces packaging as well. As opposed to Prado Karton, Prado Cartolinas da Lousã is running profitably and Atena plans no drastic changes in its strategy.

Company
Founded in 1940 and based in Tomar, Prado Karton produces paper board. The mill employs nearly 100 people and had turnovers of around €7m in 2015, due to the discontinued production. In previous years, turnover was around €20m.

Another 100 people work at Prado Cartolinas da Lousã, which is also a paper board producer. It has a turnover of €22m. 

People
Atena Equity Partners – João Rodrigo Santos (partner).
Prado Karton/Prado Cartolinas da Lousã – Manuel Cavaco Guerreiro (CEO).

Advisers
Equity – Deloitte (financial due diligence); CMS RPA (legal).

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