February 4, 2020 – Warsaw, Poland – Highlander Partners, L.P., a leading middle market private investment firm based in Dallas, Texas, with offices in Central Europe, announced the signing of a definitive agreement to sell Akomex Group, subject to approval from the Polish antimonopoly agency (UOKiK). Akomex is one of the leading manufacturers of packaging in Central Europe, specializing in high-quality solid cardboard, leaflets, labels, trays and laminated sheets for the pharmaceutical, food, electronics, technology, personal care and home appliance sectors. Akomex, headquartered in Poland and founded in 1993, maintains two manufacturing operations in Poland and one converting operation in Denmark, producing over 1.8 billion items per year.
The company is being acquired by Sebastian Śliwa, the co-founder of Akomex and a current minority shareholder, jointly with the management and support from AMC Capital IV S.c.Sp., a fund advised by Mezzanine Management.
Highlander acquired controlling interest in Akomex in 2010, undertaking a significant capacity expansion through new facilities and state-of-the-art production equipment in Starogard Gdanski, Poland. In 2014, Akomex acquired, Druk Pak in Aleksandrów Kujawski, Poland, to further diversify its offerings into pharmaceutical packaging. This acquisition was followed by the acquisition of Danish packaging producer, Planopack of Herning, Denmark, in 2018. The combination of these three companies created one of the largest packaging companies in Central Europe, serving many of the world’s leading food and pharmaceutical producers.
“After more than nine years and two significant add-on acquisitions, including a take-private transaction, we are very pleased with the results and outcome of the Akomex Group. The management team has done an incredible job of integrating the businesses into a leading packaging concern, serving the biggest names in the food and pharmaceutical industries,” stated Artur Dzagarow, Managing Partner of the Highlander Warsaw office.
“Akomex is a perfect example of the patient capital approach that Highlander undertakes. We have owned Akomex since 2010, and we have significantly expanded its facilities and capabilities through capital investment, invested in professional management and completed very significant and strategic acquisitions,” added Jeff L. Hull, Highlander President and CEO. Hull continued, “we are very pleased with the job that Grzegorz Łajca, President and CEO of Akomex Group, and his team have done in making Akomex a leader in Central Europe. We wish them and Sebastian the best in their future endeavors. We believe that Akomex is very well situated to succeed in the future.”
Rothschild & Co (Rothschild & Co Polska – www.rothschildandco.com) acted as exclusive financial advisor to Highlander, and Kancelaria Gessel (www.gessel.pl) as Highlander’s legal adviser.
CIC Corporate Finance (www.cic.pl) acted as a transaction adviser to Sebastian Śliwa and Mezzanine Management. Baker & McKenzie (www.bakermckenzie.com) and Norton Rose (www.nortonrosefulbright.com) acted as legal advisers. Additionally, EY performed due-diligence analysis.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with over $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a “buy and build” investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.
About Mezzanine Management
Mezzanine Management is currently investing from Accession Mezzanine Capital IV, which closed on €264 million in 2018 and is the firm’s largest vehicle to-date. The firm is adding a direct lending strategy to its regional private debt platform to address the growing yet underserved opportunity in its core market of Central Europe. Mezzanine Management is the exclusive advisor to the Accession Mezzanine Capital group of funds, whose total investments exceed €700m. Mezzanine Management has been operating in Central and Eastern Europe since 2000 through its offices in Vienna, Warsaw, Bucharest, Budapest and Prague. The funds’ investment portfolio is diverse, with more than 50 transactions across 12 countries in CEE. The funds are backed by reputable institutional investors, including the European Bank for Reconstruction and Development, the European Investment Fund and a number of banks, funds of funds, pension funds and insurance companies. For more information, visit www.mezzmanagement.com