EXTRUFLEX acquired by GALIENA CAPITAL

Arcosa has successfully finalized the acquisition of 100% of Ameron Pole Products from NOV Inc. This strategic transaction marks a significant expansion of the organization's Engineered Structures segment, providing an immediate foothold in the attractive concrete and steel lighting pole market. The strategic rationale for the move centers on the high degree of complementarity between the target's traffic and telecommunication structure offerings and the group's existing industrial portfolio. By incorporating the target’s specialized manufacturing facilities and experienced management team, the group enhances its nationwide presence and reinforces its capability to support high-growth infrastructure verticals, including the rollout of 5G small-cell networks. The partnership is designed to be margin-accretive, leveraging the target's high-margin "premium" product profile and strong operational track record. This integration consolidates the group’s vision of becoming a primary technical partner for sustainable urban development and utility grid modernization. The transaction highlights the group's disciplined focus on acquisitions that offer both geographic densification and technical operational depth.

Constantia Flexibles has successfully completed the acquisition of a majority stake in Aluflexpack AG. The transaction was structured in two phases: the acquisition of a 57% controlling block from the main shareholders, followed by an all-cash public tender offer for all remaining publicly held shares. The strategic rationale for the merger is to create a European champion in flexible packaging with an enhanced technology portfolio and a significantly broader geographical footprint, specifically expanding Constantia's presence in Poland, Türkiye, and Southeast Europe. The combination is expected to drive substantial synergies in R&D and sustainable product development, particularly in the aluminum-based segments for coffee and pharma. Following the acquisition, Aluflexpack will be integrated into the Constantia Flexibles Group, though it will continue to leverage its specialized production facilities to serve its established customer base under the new unified growth trajectory.

Clayton, Dubilier & Rice (CD&R) has completed the acquisition of Veritiv Corporation in a public-to-private transaction. Under the terms of the agreement, CD&R acquired all outstanding shares of Veritiv common stock for $170.00 per share in cash. The strategic rationale for the acquisition is to support Veritiv’s ongoing transformation into a pure-play leader in specialty packaging distribution. By moving to a private ownership structure, Veritiv gains the financial and operational flexibility necessary to accelerate its "buy and build" strategy and invest in further supply chain optimizations. Post-transaction, Veritiv will focus on expanding its value-added services and consolidating its dominant position in the fragmented North American packaging market. Sal Abbate continues as CEO, supported by a newly appointed Board of Directors featuring veteran industrial advisors.

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.

Mellby Gård AB crossed the 30% mandatory bid threshold in August 2023, a maneuver designed to fundamentally transition its role from the largest shareholder to the controlling parent of Duni Group. The strategic rationale for this transaction centers on a "long-term conviction" play, merging the target's industry-leading technical operational depth in circular dining solutions with the group’s established reputation as a stable, decentralized partner. This structural alignment provides the organization with the strategic certainty required to execute a multi-year transition toward reusable packaging and bio-based materials.

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.