NOVOTEMA acquired by IDEX CORPORATION

Initiative & Finance supported the management team of Pure Trade Worldwide in gaining independence from its parent company, The Brand Nation. This transformative spin-off allowed the CEO and his partners to take majority control of the capital, with Initiative & Finance acting as a minority financial partner.

Multi-Color Corporation has successfully completed the acquisition of Barat, a leading French wine label printer. The transaction involves the purchase of 100% of the company's shares from the private equity firm Cobalt Capital (which held a 55% majority stake), the founding Le Tellier family, and the management team led by Manuel Lenglet. This deal marks the exit of Cobalt Capital following a Buy-In Management Buy-Out (BIMBO) structured in 2010. By integrating Barat, MCC significantly strengthens its foothold in the strategic Bordeaux wine region, adding a high-quality manufacturing platform and over 200 skilled employees to its European network. The acquisition aligns with MCC's strategy to consolidate the fragmented wine label market by acquiring local leaders with strong customer relationships.

Marking a significant milestone in its history, Gault & Frémont has undergone a major restructuring of its capital, with the exit of its historical shareholder, Eurazeo PME, and the entry of new investors, UI Gestion and the company's management team. This transaction represents an important step in Gault & Frémont's strategy of pursuing external growth, both in France and Europe. The company's investment thesis relies on its ability to leverage its expertise in paper and cardboard packaging solutions to drive expansion and improve its competitive positioning. With a strong track record of growth and a solid financial foundation, Gault & Frémont is well-positioned to capitalize on new opportunities and reinforce its market presence. Through this transaction, the company aims to build on its existing strengths, while also exploring new avenues for growth and innovation, ultimately creating value for its stakeholders and reinforcing its position as a leading player in the packaging industry.

The management of Safic-Alcan finalized the acquisition of a majority stake in the group from Parquest Capital. This transaction is a landmark "Management-led Buyout" (MBO) aimed at affirming the company’s independence by placing the founding executives at the center of the capital structure. The deal was supported by a pool of institutional investors providing long-term equity and mezzanine capital. The acquisition financing was underwritten and coordinated by HSBC and Natixis as Bookrunners, with Société Générale joining as Mandated Lead Arranger. This new governance structure is designed to allow Safic-Alcan to pursue its European leadership ambitions through a sustainable and profitable growth trajectory.

Imerys has finalized an agreement to acquire S&B Industrial Minerals in a move designed to fundamentally transform its "filtration and performance additives" business. The strategic rationale for this transaction centers on a "market-leadership" play, merging the target's industry-leading technical operational depth in bentonite and perlite with the group’s established global distribution and mineral processing infrastructure. This structural alignment provides the organization with the scientific talent and logistical hardware—specifically across the target's Mediterranean and international mining assets—required to address the increasing complexity of metallurgy and environmental filtration.

Funds advised by CVC Capital Partners have signed an agreement to acquire 100% of Paroc Group from its existing institutional shareholder group. The transaction marks a new growth phase for Paroc following a successful five-year period of organic expansion under its previous institutional owners. The strategic rationale for CVC is to capitalize on Paroc’s market-leading position in the Nordics and Baltics while supporting its expansion into high-growth regions like Russia. CVC intends to build upon Paroc’s recent success in its higher-value technical insulation division, which benefited from significant investment in the Trzemeszno facility in Poland. For Paroc, the partnership with CVC provides access to a partner with deep expertise in the building materials sector and a proven history of supporting international growth strategies. The deal was advised by Deutsche Bank, Merasco, and BCG for the buy-side, and Lazard & Co. for the sell-side. Completion of the transaction is subject only to customary competition clearances.

The acquisition of Scepter Corporation by Myers Industries represents a pivotal milestone in its strategic refocusing and sector consolidation efforts, coming on the heels of a significant simplification of its operational structure from four to two core divisions. This streamlining enables the company to concentrate its capital deployment on the high-margin handling segment. The integration of Scepter's assets allows for the merging of two complementary product portfolios, expanding the group's global commercial footprint while leveraging its internal engineering infrastructure and state-of-the-art mold design capabilities to accelerate product line renewal. Prior to the acquisition, Scepter had established a market-leading position through its technical innovation track record. However, its geographic expansion and gross profitability were constrained by the unit cost of raw material sourcing and regional logistical bottlenecks. Post-acquisition priorities are focused on realizing immediate industrial synergies through the bulk purchasing of plastic resins, harmonizing the operational processes of the Toronto and Miami manufacturing facilities with the company's standards, and introducing Scepter's products into Myers' existing distribution networks to maximize installed production capacity.

The Management Buy Out operation led by MBO Partenaires allows Dominique Vautier to become the manager and shareholder of the Alkos-Cosmogen group, while Gérard Gieux retains a significant stake in the capital and a strong involvement in the Group's strategy. The key executives become shareholders and will support Dominique Vautier in the implementation of an ambitious strategic plan, based on organic growth, the development of new products, and international development.

Autajon has completed the acquisition of Fincarta from its family shareholders as part of its ongoing strategic expansion into the Italian and North American markets. This transaction follows previous successful acquisitions in Spain (Litoplex and Sinel) and represents a significant step in the group's efforts to consolidate the European premium packaging sector. By integrating Fincarta, the acquirer gains immediate production capacity in Italy and a strategic foothold in the United States, while simultaneously broadening its expertise in the confectionery and spirits segments. The deal was conducted for a confidential amount and involves the transfer of four manufacturing units. This acquisition significantly boosts the group's total headcount and strengthens its competitive position as a top-tier provider of specialized cardboard solutions for high-end consumer goods.

Astorg has finalized an agreement to acquire the Kerneos from Materis (Wendel), a maneuver designed to fundamentally transition the business from a subsidiary of a diversified construction conglomerate into a standalone global platform. The strategic rationale for this transaction centers on a "portfolio-emancipation" play, merging the target's industry-leading technical operational depth in calcium aluminates with the sponsor's established expertise in professionalizing mid-cap industrial champions. This structural alignment provides the organization with the institutional capital and strategic autonomy required to pursue an independent growth roadmap after years of serving as a cash-generating division for a leveraged parent.