CapMan's portfolio company Walki Group buys Meuwissen and strengthens its leading position in multi-layer laminates

CapMan Press Release 3 October 2011 at 2.00 p.m. EET

CapMan's portfolio company Walki Group buys Meuwissen and strengthens its leading position in multi-layer laminates

Walki Group, a leading producer of technical laminates and protective packaging materials, has today announced the completion of the acquisitions of Meuwissen Industrie B.V. and Meuwissen Bouwprodukten B.V. Meuwissen Industrie B.V. is a producer of flexible packaging materials and Meuwissen Bouwprodukten B.V. is a specialist distributor of building and construction materials. Both businesses are located in the Netherlands, employing 65 persons in total and with net sales of €21 million in 2010.

"CapMan's aim together with the management is to expand Walki's business through organic growth and acquisitions. The acquisition of Meuwissen supports this strategic goal," says CapMan Partner Anders Björkell.

"The acquisition of Meuwissen is important step for Walki. It allows us to further develop our position as a leading producer of technical laminates and protective packaging materials", comments Leif Frilund, President and CEO of Walki Group. "Meuwissen's location in the Netherlands fits excellently to Walki's existing plant network and will increase our local coverage in the important Central European markets."

Walki Group will integrate the Meuwissen businesses into the Technical Products business area, which consists of e.g. insulation facings and construction laminates. The business area has production in Finland, Germany, Sweden, the UK and China.

Jan Gerritsen, owner of Meuwissen Group, states: "Meuwissen has a good business platform, which can be further developed with Walki's knowledge and expertise. I am convinced that Meuwissen will contribute a lot to the future success of the Walki Group. We are pleased to be part of this exciting new development."

Walki Group acquired Meuwissen Industrie B.V. and Meuwissen Bouwprodukten B.V. from Meuwissen Holding B.V. The parties have agreed not to disclose the acquisition price.

CapMan Buyout VIII fund, in which CapMan Plc is a substantial investor, holds a majority share in Walki Group, while the group's management and key employees are minority shareholders. CapMan Buyout VIII fund has made a substantial add-on investment in the company to finance the announced acquisition. The fund's original investment in Walki was made in 2007.

For further information, please contact:
Anders Björkell, Partner, CapMan Buyout, tel. +358 40 537 7566
Leif Frilund, President and CEO, Walki Group, tel. +358 40 354 3330

CapMan in brief
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.4 billion. CapMan has four key investment partnerships - CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 120 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001. www.capman.com

Walki in brief
Walki Group is a leading producer of technical laminates and protective packaging materials, specialising in the production of fibre based, intelligent, multilaminate products for markets as diverse as energy saving construction facings to barrier packaging applications. Walki Group has operations in Finland, Sweden, Germany, Poland, the UK, Russia and China with a workforce of approx. 1,000 people. Annual net sales for the Group are €300 million. www.walki.com


Meuwissen in brief
Meuwissen is an independent, family owned company, founded in 1954. The company specialise in the manufacture of products for the construction, building and industrial packaging markets; adding value to their customers business by improving performance and helping to reduce the total cost of ownership, where Meuwissen products are used. The company employ 65 people from their base in Haarlem, The Netherlands. Annual net sales for the company are €21 million. www.meuwissen.com

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