Announced on 28 June 2019, the transaction has been completed following the fulfilment of all customary regulatory requirements. Centerbridge is a private investment management firm and dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives. The firm was founded in 2005 and as of June 30, 2019 has approximately $27 billion in capital under management with offices in New York and London. Centerbridge, across its private equity, credit and real estate strategies, has made seven investments out of its London office in 2019 to date including Solidus.
Commenting on the acquisition on behalf of the leadership team of Solidus, Richard Houben, CEO of Solidus, said: “We are very excited to welcome Centerbridge as our new majority shareholder. It will bring additional capital and industry expertise to support the expansion strategy of our business. Centerbridge is the right partner for us to continue growing internationally through further add-on acquisitions and by leveraging our product innovation capabilities and European market leadership.”
Oliver Stork, Managing Director at Centerbridge said: “We look forward to actively supporting the management and employees of Solidus to further accelerate the growth and development of the company. Centerbridge will work together with the management team to strengthen Solidus’ commercial and operational capabilities to enhance the company’s position as a reliable and innovative partner to its international customer base. In addition, we will pursue strategic acquisitions to further broaden the geographic footprint and product portfolio of Solidus.”
Alex Stirling, Senior Managing Director at Centerbridge added: “The acquisition of Solidus fits well into Centerbridge’s Private Equity strategy of investing in market-leading companies based in Europe with significant growth potential. Centerbridge’s industry expertise and international network will further strengthen Solidus’ position as a pan-European leader in the fibre-based packaging industry. We are delighted to partner with Richard and the Solidus team.”
Solidus is a leading fibre-based sustainable packaging producer in Europe. It operates from 15 locations across seven countries: the Netherlands, Belgium, France, Germany, Spain, Portugal and the UK, using state-of-the-art manufacturing capabilities to produce and convert a diverse range of solidboard, graphicboard and coreboard products, which it sells to customers in 70 countries worldwide.
About Centerbridge Partners
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for our investors and business partners. The Firm was founded in 2005 and as of June 30, 2019 has approximately $27 billion in capital under management with offices in New York and London. For more information, please visit www.centerbridge.com