Investment group Aurelius plans to acquire packaging solutions supplier Abelan Group’s businesses in Germany and the Netherlands, for undisclosed amount.
Under the terms of the deal, Aurelius will acquire a paper mill in Viersen, Germany, and a solid board packaging plant in Zutphen, Netherlands.
Aurelius CEO Dr. Dirk Markus said: "Abelan is a very attractive addition to our portfolio of mid-sized industrial enterprises for which we see significant operational improvement potential.
"We believe that 2016 will be a very good year for Aurelius and are currently working hard on further company acquisitions and exits."
Abelan's activities in Germany and the Netherlands generated revenues of around €50m last year.
Abelan's facility in Germany produces mainly solidboard and coreboard for tubing and mandrels, as well as edge protectors for the end markets, including the hygiene and tissue sectors.
The deal is scheduled to be completed by the end of this month.
Established in 1911, Abelan is engaged in supplying packaging solutions for the European food sector.
The company has been developing and expanding into various activities related to the manufacture, processing and handling of paper and cardboard.
Aurelius expects the deal to create potential synergies across production, purchasing and sales with its portfolio company Solidus Solutions. Aurelius acquired Solidus in April 2015.
