AMC Capital IV S.C.Sp., advised by Accession Capital Partners (ACP), has realized an early exit of its investment in paper packaging specialist Akomex.
The realization follows three strong years for Akomex after ACP provided EUR 21.1 million in mezzanine and equity to fund a buy-back by the founder and management in February 2020. The early realization was made possible by the exceptional performance of the company which increased revenues by 70% and nearly doubled EBITDA in that time. The performance put the company in a position to repay the mezzanine and buy back ACP’s equity stake, with the transaction providing a strong outcome for ACP’s investors.
Founded in 1993, Akomex is a leading manufacturer 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. The firm is headquartered in Poland, with manufacturing operations there and a converting operation in Denmark since 2018. During the investment period Akomex boosted its production capacity substantially while simultaneously investing into efficiency-enhancing machinery, with 2.5 billion produced annually, up from 1.8 billion at the time of ACP’s 2020 investment.
Piotr Sadowski, Partner at ACP, said: “Our role was to facilitate and unlock the growth potential of Akomex, with the ultimate outcome clearly illustrating the success achieved jointly with the founder and management team. The leadership team was reinvigorated by fresh governance controls and incentive schemes put in place in 2020. Their ambition drove strong improvement in the business’s efficiency and capacity. We wish them all the best for continued success.”
Grzegorz Łajca, President and CEO of Akomex, said: “This was a highly successful investment which exceeded the expectations of all involved. During the investment period we not only improved the financial performance of Akomex but also established the company on a solid footing for continued growth. ACP played an important role in this development assisting in the initial buy-out transaction and then throughout the entire investment period. We appreciate this support.”
Accession Capital Partners (ACP), formerly known as Mezzanine Management, is nearing the end of the investment period for Accession Mezzanine Capital IV, which closed on €264 million in 2018. Fundraising for AMC V launched earlier this year and has already secured commitments of over 50% of its €300 million target. AMC V has identified a strong pipeline of opportunities, with its first investment expected imminently.
ACP has been operating in Central Europe since 2000 through its offices in Vienna, Warsaw, Bucharest, Budapest and Prague. To date, the group has raised commitments of close to €1bn in five dedicated growth capital funds. The funds are backed by reputable institutional investors, including the European Investment Fund, the International Finance Corporation, the European Bank for Reconstruction and Development and a number of banks, funds of funds, pension funds and insurance companies from Europe, the US and Asia.
For further information, please contact:
Christian Stix, Head of Investor Relations
tel.: +43 1 532 89 9019