Solidus is a fibre-based sustainable packaging provider that operates from 15 locations across seven countries, including the Netherlands, Belgium, France, Germany, Spain, Portugal and the UK
The funds advised by Centerbridge, a private investment management firm, have completed the acquisition of Solidus Solutions from AURELIUS Equity Opportunities.
The transaction was completed after fulfilling all customary regulatory requirements
Centerbridge has completed the transaction fulfilling all customary regulatory requirements and intends to partner with management teams across the industry sectors to help companies achieve their operating and financial objectives.
Solidus is a fibre-based sustainable packaging provider that operates from 15 locations across seven countries including the Netherlands, Belgium, France, Germany, Spain, Portugal and the UK.
Furthermore, it makes use of advanced manufacturing capabilities to produce and convert a varied range of solidboard, graphicboard and coreboard products, catering customers in 70 countries worldwide.
Solidus CEO Richard Houben said: “We are very excited to welcome Centerbridge as our new majority shareholder. It will bring additional capital and industry expertise to support the expansion strategy of our business. Centerbridge is the right partner for us to continue growing internationally through further add-on acquisitions and by leveraging our product innovation capabilities and European market leadership.”
Founded in 2005, Centerbridge Partners holds approximately $27bn (£21bn) in capital under management with offices in New York and London, as of 30 June 2019.
Across its private equity, credit and real estate strategies, has made seven investments out of its London office in 2019 to date including Solidus.
The company said that the acquisition of Solidus is in line with its private equity strategy of investing in companies with significant growth potential.
Furthermore, its industry expertise and international network would further strengthen Solidus’ position in European fibre-based packaging industry.
Centerbridge managing director Oliver Stork said: “We look forward to actively supporting the management and employees of Solidus to further accelerate the growth and development of the company.
“Centerbridge will work together with the management team to strengthen Solidus’ commercial and operational capabilities to enhance the company’s position as a reliable and innovative partner to its international customer base. In addition, we will pursue strategic acquisitions to further broaden the geographic footprint and product portfolio of Solidus.”