Adviser to Active Capital Company on the acquisition of Codi Group from Value Enhancement Partners

Adviser to Active Capital Company on the acquisition of Codi Group from Value Enhancement Partners
Tuesday April 18th, 2017 Alexander van Rossum

Fortaleza Capital acted as exclusive corporate finance adviser to Active Capital Company on the acquisition of Codi Group from Value Enhancement Partners.

About Codi Group: Codi Group develops, produces and markets wet wipe products for a wide range of consumer applications, servicing both A-level consumer brands and retailers. Codi Group is the new name of three leading companies in wet wipes in Europe: Codi International, Incare and Sweeps. Codi International and Incare share over 60 years of experience as leading manufacturers in the industry and take pride in being reliable partners servicing both first-class FMCG brands (e.g., Beiersdorf and Rituals) as well as retailers (e.g., Ahold Delhaize, Hema and Kruidvat) and institutional customers across Europe. Sweeps, founded in 2014, is a marketing and sales organisation. Sweeps is a unique wet wipes brand based on natural fibers targeting consumers on-the-go via multiple convenience channels.

At its production facilities in Veenendaal and Venray (The Netherlands), Codi Group converts nonwovens into various high-end products with flexible and innovative packaging options. Codi has grown fast in recent years, both autonomously and via the bold-on acquisition of Incare in Venray, realising c. €60 million turnover with 180 employees. CEO Erik van Deursen says: “We are very happy to step-up our growth initiatives and realise our ambitious strategy. Over the last years Codi has successfully focused on internal optimisation and broadening our customer base to create a solid platform for future growth. With the investment from ACC out of its new fund, we have ample time and funds to realise our growth targets, both autonomously and via add-on acquisitions”.

About Active Capital Company: Active Capital Company (ACC) is an Amsterdam based independent hands-on private equity firm. AAC invests in companies that are headquartered in the Netherlands and that are operating in industrial goods and services or (technical) wholesale and manufacturing, and have a revenue between 10 and 80 million euro. ACC invests in companies with a strong core (good customers and products), and companies to which the team can add value through proactive involvement. Active Capital Company is financed and supported by institutional investors and entrepreneurs with a proven track record in similar markets.

Victor Schols, Investment Director at ACC says: “Codi fits perfectly in the investment focus of ACC and we are happy to support the company in achieving its goal to becoming a top 3 player in Europe. We look forward to working with the team and accelerating the Codi strategy based on three pillars of Sustainability, Consumer Insights and Technological Innovation”.

The press release can be found here (English) and here (Dutch).