Arle Capital has acquired the Innovia Group from the Candover 2001 Fund, for an enterprise value of €498m ($689m), with funds raised from a syndicate of new investors, keeping ownership with funds managed by the same international private equity company.
Innovia CEO David Beeby 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.
“This transfer of ownership means that the Innovia Group has a strong future. It enables the company to sustain its growth plans across our technologies, brands and trademarks.”
The Innovia Group employs 1,600 people across two divisions: Innovia Films and Innovia Security. It operates six manufacturing sites in Australia, Belgium, Mexico, the United Kingdom and the United States, coupled with a network of sales offices, agents and distributors throughout the world. This is all backed up by a strong and sustained commitment to innovation, service, quality and customer relationships.
Innovia Group recently announced £40m ($67m) worth of investment on its Wigton site: £20m for a gas turbine and a new ‘bubble’, which will increase its biaxially oriented polypropylene (BOPP) output by 10%; and a £20m investment, announced after the Bank of England confirmed it will adopt polymer banknotes, so Innovia can build a plant to produce the new £5 and £10 polymer banknote substrate.
The Innovia Group has two divisions, Innovia Films and Innovia Security. Innovia employs some 1,600 people worldwide, with a focus on high quality speciality products, strong customer relationships, R&D, and unsurpassed service.
Innovia Films is a major producer of BOPP and cellulose (NatureFlex™ and Cellophane™) films with production sites in the UK, USA, Belgium and Australia. It holds a leading global position in the markets for labels and security films, coated packaging, overwrap and renewable and compostable films.
Innovia Security is the suppler of Guardian® the world’s most sophisticated banknote substrate which is currently issued by 23 countries worldwide.