IMAP Netherlands advised VE Partners on the divestment of Codi Group. IMAP Netherlands found the most suitable buyer which is able to actively support the company in realizing its growth potential.
The Codi Group develops, produces and markets wet wipe products for a wide range of consumer applications, servicing both A-level consumer brands and retailers. At its production facilities in Veenendaal and Venray (the Netherlands) nonwovens are converted into various high-end products with flexible and innovative packaging options.
Ready for further growth
Private equity firm Active Capital Company (ACC) acquired a majority stake in Codi Group from Value Enhancement Partners (VE Partners) for an undisclosed sum. The company’s management reinvests and increases its stake. Since the acquisition in 2013 by VE Partners and management, Codi has grown fast, both autonomously and via the bold-on acquisition of Incare in Venray.
During the transaction, IMAP Netherlands worked closely with the lawyers of AKD (Francois Koppenol and Arjen de Pril). IMAP Netherlands dealteam: Jan-Pieter Borst, Frank Ruijgrok and May Wu.
Erik van Deursen, Codi Group CEO said
“We are very happy to step-up our growth initiatives and realize our ambitious strategy. Over the last years Codi has successfully focused on internal optimization and broadening our customer base to create a solid platform for future growth. With the investment from ACC out of its new fund, we have ample time and funds to realize our growth targets, both autonomous and via add on acquisitions.”
Over 90 delegates from IMAP member firms representing 32 countries congregated in Miami on October 25th - 27th for IMAP’s 2018 Fall conference. The conference was hosted by Falls River Group, IMAP’s partner firm in Florida, and was set around the theme of ‘Disruptive Innovation’.