H.I.G. Europe completes acquisitions of US-based metallized paper maker Vacumet Paper from Scholle and Belgian metallized paper manufacturer ARMetallizing from Ackermans & van Haaren; product's end uses include beverage, consumer packaged goods markets

Sandy Yang

LONDON , September 18, 2012 (press release) – H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, today announces that it has completed the simultaneous acquisitions of ARMetallizing (“ARM”), a Belgium based European leader in the manufacture of metallized paper from Ackermans & van Haaren, and Vacumet Paper, a Massachusetts based US leader in the manufacture of metallized paper from Scholle Corporation.

The combined Group will be the global market leader in metallized paper for use in the beverage and consumer packaged goods markets. The Group’s metallized paper is currently used as the base paper in premium beer labels, spirit labels, food packaging, consumer product packaging and gift wrap, and can be found on many household brands such as Becks beer, Lurpak butter in Europe, and Coors Light and Hasbro in the US. With revenues in excess of €120m, the Group will supply clients globally from 3 manufacturing facilities in Belgium, Italy and the US and will be led by ARM’s CEO, Paul Van Emmerick and CFO, Martin Raeymakers, who will retain a significant shareholding in the business.

Dr. Matthias Allgaier, Managing Director of H.I.G. Europe, said: “The simultaneous acquisitions of ARM & Vacumet reinforces H.I.G.’s ability to execute on complex transatlantic transactions; over the coming years, Paul and his team will leverage H.I.G.’s presence across Europe, the US and South America to grow the business organically and through bolt-on acquisitions.”

Paul Van Emmerick, Chief Executive of ARMetallizing, said: “We are very pleased to have completed the MBO of ARM and the simultaneous acquisition of Vacumet Paper with H.I.G. Europe. With H.I.G.'s backing, we have already taken a major step in being able to supply our customers’ global packaging needs."

Mark Kelly, of H.I.G. Europe added: “Paul and his team have done an outstanding job building ARM into the #1 player in Europe; through the acquisition of Vacumet, we have now created the global market leader in a niche segment of consumer packaging. We look forward to supporting Paul and Martin in expanding ARM’s global footprint and extending the company’s product offering into adjacent CPG markets.”

This transaction represents H.I.G. Europe’s 21st new European investment since the beginning of 2011.

Other recent investments include ALTEO, formerly known as the specialty aluminas business of Rio Tinto, the international mining group. The €300m revenue business has four plants – three in France and one in Germany and is the leading global integrated producer and supplier of non-metallurgical grade alumina, a key ingredient for everything from the manufacture of glass and ceramics to abrasives and flooring.

About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than £7 billion of equity capital under management and a team of more than 225 investment professionals. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris and Rio de Janeiro, H.I.G. specialises in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined revenues in excess of £8 billion.

For more information, please refer to the H.I.G. website at www.higcapital.com.

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