DUNI GROUP acquired by MELLBY GÅRD

The acquisition of the South Texas cement and concrete operations by the group represents a significant strategic realignment within the North American building materials landscape. This transaction facilitates a major expansion of the organization's existing regional platform, specifically strengthening its Ash Grove cement business by integrating a high-capacity manufacturing nexus and an extensive downstream distribution network. The strategic rationale for the move centers on achieving geographic densification in the high-growth Austin and San Antonio corridors, where infrastructure demand remains structurally robust. By incorporating these integrated assets, the group enhances its ability to capture value throughout the construction lifecycle, from raw material extraction to final project delivery. For the seller, the divestiture is a key component of its long-term portfolio optimization strategy, allowing it to reallocate capital toward higher-margin aggregates and internal growth initiatives. The partnership establishes a comprehensive technical platform capable of meeting the rigorous requirements of modern industrial and residential development. This integration reinforces the group’s position as a dominant consolidator in the Texas market, ensuring technical durability and operational efficiency across its expanded industrial footprint.

Greif has finalized the acquisition of Ipackchem. The transaction was funded through Greif's existing credit facility and is expected to be immediately accretive to EBITDA margins. This strategic move allows Greif to capture $14.7 million in annual synergies by integrating Ipackchem's global operations into the Greif Global Industrial Packaging segment. The acquisition is a cornerstone of Greif's expansion into high-performance small containers, providing the group with advanced barrier technology capabilities and a stronger presence in the agrochemical market worldwide.

Apollo Global Management, alongside a minority investment from Irenic Capital Management, has finalized the acquisition of Arconic Corporation, transitioning the entity to private ownership. The strategic rationale for this transaction centers on a "long-term-value" play, merging the target's industry-leading metallurgical capabilities with the acquirer's extensive experience in the aluminum fabrication sector. This fusion effectively provides the organization with the strategic backing required to pursue a definitive structural transformation, focusing on state-of-the-art process controls and the modernization of key machine centers. This operation allows the group to execute a definitive structural upgrade of its manufacturing facilities, specifically targeting the North American rolled products market. By incorporating the sponsor's operational discipline, the organization can now provide a more robust and integrated solution set for aerospace and ground transportation customers.

Michelin has successfully completed the acquisition of 100% of the share capital of Flex Composite Group (FCG) from the investment firms IDI and Andera Partners. This transaction is a cornerstone of Michelin's strategy to expand its "High-Tech Materials" division beyond tires. By integrating FCG, Michelin creates a new powerhouse in polymer composite solutions, unlocking deep innovation synergies. FCG's expertise in engineered fabrics and films perfectly complements Michelin's own R&D capabilities, allowing for cross-fertilization in product development for sectors like electric mobility and sustainable construction. The deal is expected to increase the revenue of Michelin's High-Tech Materials business by approximately 20% and is accretive to the group's margins.

AGIC Capital acquired a majority stake in Pure Trade from Sparring Capital, which had held the investment since February 2020. During Sparring's holding period, the group demonstrated strong resilience through the Covid crisis and expanded its global footprint with offices in Paris, Barcelona, Hong Kong, Shenzhen, Shanghai, and New York. The transaction is designed to support the next phase of international development, particularly in the US and Asia, as the group targets €90M in revenue for 2023. CEO and Founder Stefane Ladous, along with the existing management team, reinvested in the transaction to drive continued growth.

Trajan acquired a majority stake of less than 60% in Essences & Parfums to facilitate the founders' retirement and the company's succession. The founders rejected acquisition offers from corporate groups to preserve the brand's independence, opting instead for a financial partnership. The deal was structured as a competitive process involving several sponsors: Bpifrance and Smalt Capital acquired approximately 20% of the capital, the founders retained about 20%, and the new management team took a stake of less than 10%. The acquisition was financed via a two-tranche senior debt package and a lease-back arrangement for the company's real estate. The strategic plan focuses on ensuring a smooth leadership transition while exploring organic growth opportunities and potential build-ups to strengthen the group's international presence.

The acquisition of Tapì by Stirling Square Capital Partners marks a significant milestone in the company's history, as it transitions from Wise Equity's ownership to a new phase of growth and development. The strategic rationale behind the deal is rooted in Stirling Square's recognition of Tapì's market-leading position in the luxury closures market and its potential for further expansion. With its strong brand reputation, innovative products, and global customer base, Tapì is well-positioned to capitalize on the growing demand for premium and luxury packaging solutions. Stirling Square's investment will support Tapì's continued growth, both organically and through strategic acquisitions, as the company seeks to consolidate its position in the global market. The deal also reflects the increasing importance of sustainability and ESG considerations in the packaging industry, as Tapì's commitment to environmental responsibility and social accountability aligns with Stirling Square's values and investment philosophy.

Aimia Inc. acquired a majority stake (~94%) in Giovanni Bozzetto S.p.A. from Chequers Capital and other minority shareholders. The transaction was a partnership with Paladin Private Equity, which received an option to acquire up to 19.9% of the equity. The strategic goal was to leverage Bozzetto’s ESG leadership to expand into the Americas and Asia through organic growth and accretive M&A.

Holcim has successfully entered into a definitive agreement to acquire 100% of Duro-Last, a move that establishes the group as a dominant force in the North American commercial roofing market. This strategic transaction marks a significant acceleration of the group’s "Strategy 2025," aimed at expanding its Solutions & Products division to represent 30% of total group sales. The strategic rationale centers on the integration of a highly profitable, high-growth platform that complements the group’s existing building envelope portfolio through proprietary thermoplastic technology and custom-made roofing solutions. By incorporating the target’s specialized R&D capabilities and manufacturing infrastructure, the group significantly strengthens its leadership in sustainability, particularly through advanced recycling and energy-efficient roofing systems. The partnership is designed to generate substantial industrial synergies by leveraging the group’s global distribution power and the target’s strong customer relationships in the US. This integration allows for a comprehensive end-to-end service offering in the lucrative commercial refurbishment and green building sectors. This move reinforces the group’s standing as a primary consolidator in the high-margin North American industrial construction landscape.

Motion Equity Partners acquired a majority stake in Tournaire alongside the founding family to accelerate the group's global development and industrial modernization. The strategic rationale is built on two pillars: geographical expansion into new high-growth markets and the capitalization on the environmental trend favoring aluminum as a sustainable, recyclable alternative to plastic packaging. Motion intends to leverage Tournaire's unique product range to capture market share in the pharmaceutical and fine chemical sectors while implementing an ambitious buy-and-build strategy to consolidate the specialized technical packaging market in Europe and North America.