The deal will allow Solidus Solutions to further optimise its service to offer a broader product portfolio to its customers

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Image: Solidus Solutions seeks to boost its position in European packaging sector with new acquisition. Photo: courtesy of rawpixel from Pixabay.

Solid board sheets and board packaging producer Solidus Solutions has closed the acquisition of two Spanish converters of cores and tubes, Mayensa and Valtub.

The acquisition is a part of Solidus’ effort to further strengthen its operations in the European packaging sector and broaden the product portfolio. The financial terms of the deal were undisclosed.

With the completion of the deal, Mayensa and Valtub will operate alongside Solidus.

Berrobi-based Mayensa and Cox-based Valtub provide cores and tubes for the industrial market.

Upon completion of the integration, Solidus mills in San Andrés, Spain and Bad Nieuweschans, the Netherlands will deliver cores and tubes that are produced from coreboard to the two converters.

The latest acquisition will strengthen Solidus’ operations in the European packaging sector

Solidus said that the acquisition of Mayensa and Valtub will allow it further optimise its service to offer a broader product portfolio to its customers.

Solidus Solutions CEO Richard Houben said: “The acquisition of Mayensa and Valtub is important for us as it further strengthens our position in southern Europe.

“In addition, this strategic investment enables us to take another important step in the further vertical integration within our group.”

The deal represents the first acquisition by Solidus in the European packaging sector since its acquisition by private investment management firm Centerbridge Partners.

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 company 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.

In September 2019, the funds advised by Centerbridge have completed the acquisition of Solidus Solutions from AURELIUS Equity Opportunities.

The company said that the acquisition of Solidus is in line with its private equity strategy of investing in companies with significant growth potential.