We advised Suominen Corporation and the MBI team consisting of new and existing management in the sale of Suominen Corporation’s Flexibles Division to UK based PE fund Lonsdale Capital Partners and MBI team. Suominen Corporation retains a minority shareholding of 19.9% in the business by converting parts of the currently outstanding intra-group loans into equity, while parts of the above intra-group loans remain as a vendor loan. The enterprise value of the Flexibles business area amounts to EUR 20 million, plus earn out of up around EUR 1 million.
Suominen Flexibles produces high-quality plastic film packaging for consumer applications. It has operations in Finland, Poland, Sweden, and Russia and exports to 23 countries. Flexibles’s sales were EUR 60 million in 2013.