Fortaleza Capital acted as exclusive corporate finance adviser to Écart Invest on the acquisition of a majority stake in

About is a box manufacturer that produces corrugated transport packaging, which it markets through its state-of-the-art e-commerce platform to small and medium-sized businesses. Products include American folding boxes and mail boxes, which customers can order tailor-made in various board qualities and types of printing.

By offering small series of custom-made boxes online, the company has been able to differentiate itself from other box suppliers. has consequently grown rapidly over time and has been awarded the “FD Gazelle Award”, a prize for the fastest growing companies in the Netherlands, for five years in a row now (2013 through 2017).

Jos Knulst, who founded the company 16 years ago, retains a minority stake. He will remain director until a successor has been found, after which he will become a supervisory director and will remain involved as a shareholder of
Écart Invest has a long-term horizon and will support the company with further growth. Leo Zijerveld of Écart Invest comments: “We will be intensifying marketing efforts and be taking sales teams on the road.” By producing custom-made boxes, also in small order sizes, Mr Zijerveld anticipates further sales potential for the SME market in the Netherlands. Subsequently, other countries will be targeted.

About Écart Invest: Since 1993, Écart Invest (“Écart“) combines the professionalism of a private equity firm with the decisiveness and expertise of experienced entrepreneurs. Écart invests with an eye for continuity and growth.

Écart participates for an indefinite period of time, thus providing the opportunity to take part in a long-term venture. Écart focuses on medium-sized Dutch-headquartered companies, investing from €1.0 million to €8.0 million per participation. Although Écart’s expertise is not confined to one single sector, it has gained a relatively large amount of specialised knowledge in the areas of packaging, HR Services and IT.

The participation in is the third packaging company in which Écart has invested. Since 2009, Écart has had an interest in bag closures manufacturer Schutte bagclosures. Additionally, since 2014 it is invested in SFA Packaging, a supplier of injection moulded packaging. Écart nowadays has invested a total of some €12 million in the packaging sector.