Prudentia Capital, a French private equity firm, has carved out Arjobex from Arjowiggins Group, a manufacturer of creative and technical papers. Arjobex specializes in the production of synthetic paper used for tags and labels (food, industrial and security applications) sold under the Polyart registered trademark.
Arjobex is an international company with €35M ($39M USD) of sales and 160 employees at three production sites: Rives, France, Clacton-on-Sea, UK and Charlotte, US. The company addresses the growing synthetic paper market, estimated at $587M USD in 2019 and projected to reach $873M USD by 2024, which represents an annual growth of 8.3 percent.
‘Arjobex is a profitable and innovative company, positioned on a growing market, that did not receive the necessary strategic support from its previous owner. We are pleased to bring our financial capabilities and operational know-how in order to enable the current management team to expand its business and reinforce their position as the European leader of this niche market,’ said Roland Germain, founding partner of Prudentia Capital.
‘Arjobex will benefit from its newly found independence as well as the expertise and support of Prudentia Capital to broaden its product and service offer, especially its tamper evident solution. We intend to strengthen our presence with our longstanding base of clients and gain new ones, both in the distribution and specialized printing segments,’ said Arnaud Roussel, CEO of Arjobex. ‘The investment of Prudentia Capital will also allow Arjobex to invest in its production facilities and add talent to its skilled employee base.’
‘This carve out is a unique opportunity for a successful France-based company to gain its independence. The transaction fully resonates with the philosophy of our small cap strategic value fund, where we create long term partnerships with companies and their management teams, unlocking the path for them to become international leaders,’ said Dominik Zwerger, Founding Partner of Prudentia Capital.