Innovia Group changes ownership

Innovia Group has been acquired by Arle Capital from the Candover 2001 Fund, for an enterprise value of 498 million GBP, with funds raised from a syndicate of new investors. This means ownership remains with funds managed by the same international private equity company.

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David Beeby, Innovia Group CEO said: ‘We are delighted that we will be partnering again with Arle who have worked closely alongside us since 2009.  They share our vision for the future and will continue to support new investment in both the films and security businesses moving forward.’

The Innovia Group employs 1,600 people across two divisions – Innovia Films and Innovia Security.  It operates six manufacturing sites located in Australia, Belgium, Mexico, the United Kingdom, and the United States, coupled with a network of sales offices, agents and distributors throughout the world.

Innovia Group recently announced 40 million GBP worth of investment on its Wigton sit, with 20 million GBP to be spent on a state-of-the-art gas turbine and a new 'bubble', which will increase its biaxially oriented polypropylene (BOPP) output by 10 percent. An additional 20 million GBP investment was announced after the Bank of England confirmed its decision to adopt polymer bank notes. This will enable Innovia Group to build a new plant to produce the new £5 and £10 polymer banknote substrate which will create a further 70-80 jobs on the site.

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