mynth
05/2026

THIMM GROUP acquired by SAICA GROUP

GERMANY Chemicals & Materials / Packaging & Containers / Paper & Cardboard REV 450M - 900M EUR

Context

Saica Group has announced a definitive agreement to acquire 100% of Thimm Group, a premier European provider of sustainable packaging and display solutions. This transaction represents a landmark corporate buyout within the European paper and packaging sector, uniting two industrial giants with a deeply institutionalized history of partnership, including a strategic sales alliance and an active joint venture in Poland. The acquisition thesis represents a major, transformational consolidation play designed to capture absolute market leadership within the Western and Eastern European packaging landscapes. By integrating Thimm Group, Saica Group successfully executes a major geographic expansion, establishing an immediate, large-scale operational beachhead in Germany and highly complementary Eastern European territories. The post-closing strategic rationale focuses on unlocking substantial operational efficiencies, capturing deep network synergies, and driving economies of scale across the unified corporate platform.

THIMM GROUP, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Industry & Manufacturing market trends

Target

Thimm Group operates as a premier European designer and manufacturer of sustainable packaging and display solutions, commanding a market-leading position within the corrugated cardboard sector. Founded in 1949 by Walter Felix Thimm, the family-rooted enterprise has scaled into a major multinational platform with an extensive operational footprint spanning Germany, Poland, Romania, and the Czech Republic. The group’s comprehensive product portfolio encompasses engineered transport, shipping, and retail packaging for fast-moving consumer goods (FMCG), standardized merchandise-bearing display systems, and high-quality preprints designed for industrial conversion. The company’s business model and value proposition are deeply anchored in the principles of the circular economy and closed-loop resource management. By engineering high-performance, eco-friendly corrugated alternatives, Thimm Group enables its corporate client base to optimize supply chain logistics, enhance point-of-sale product positioning, and materially reduce the environmental footprint of their packaging workflows.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
LOGIN
LOGIN
LOGIN
2023
LOGIN
LOGIN
LOGIN

Similar deals in Industry & Manufacturing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
06/2026HOWDENSDIY KITCHENSUNITED KINGDOMChemicals & Materials

Howdens has agreed to acquire DIY Kitchens, a UK-based online kitchen manufacturer and retailer, in a transaction designed to broaden its route-to-market strategy and expand its reach beyond its traditional trade customer base

06/2026JOHNSON MATTHEYCORMETECHUNITED STATESChemicals & Materials

Johnson Matthey acquires Cormetech, a US-based specialist in SCR catalysts used for emissions control in power generation and industrial applications. The transaction strengthens JM’s Clean Air Solutions business, which focuses on pollution abatement technologies for stationary engines, gas turbines and coal-fired power plants

05/2026COSMOGENASQUANCHINAChemicals & Materials

This transaction represents Cosmogen's first external growth initiative since its spin-off and is a transformative step to double its operational scale. Driven by its controlling shareholder, Weinberg Capital Partners, the acquisition aims to create a new global reference in the premium beauty packaging market, the Cosmogen & Asquan Group

05/2026STERIMEDSIMAGECFRANCEChemicals & Materials

The acquisition of Simagec by Sterimed is a strategic move to expand Sterimed's service offering to medical device manufacturers and pharmaceutical companies. The deal complements Sterimed's existing operations and enables the company to further strengthen its position in the medical packaging market

04/2026INTERNATIONAL PAPER COMPANYNORPACUNITED STATESChemicals & Materials

The group has finalized an agreement to acquire the target from One Rock Capital Partners, a maneuver designed to fundamentally expand its manufacturing capabilities in the growing West Coast region. The strategic rationale for this transaction centers on a "network-flexibility" play, merging the target's industry-leading technical operational depth in recycled fiber milling with the group’s established global distribution and containerboard framework

04/2026LIFCOMETALLTECHITALYChemicals & Materials

The Swedish investment holding has signed a definitive agreement to acquire a majority interest in the target, marking its first transaction in the Italian market for the 2026 fiscal year. This operation follows a high-velocity acquisition pipeline aimed at consolidating a portfolio of high-performing "Made in Italy" industrial champions

02/2026CVCDSM-FIRMENICH ANH (ANIMAL NUTRITION & HEALTH)SWITZERLANDChemicals & Materials

DSM-Firmenich has agreed to sell a majority interest in its Animal Nutrition and Health (ANH) business to CVC Capital Partners. Under the terms of the agreement, DSM-Firmenich will retain a 20% minority stake to benefit from future upside

02/2026SAGARDESSENCES & PARFUMSFRANCEChemicals & Materials

Sagard acquired a majority stake in Essences & Parfums from Trajan, which exited the business alongside minority investors Bpifrance, Smalt Capital, and the original founders. The transaction, completed following a swift three-month competitive process managed by an investment bank, saw strong interest from both financial sponsors and industrial players

02/2026MEARTHANE PRODUCTS CORPORATIONAXILLON AEROSPACE - POLYURETHANEUNITED STATESChemicals & Materials

This corporate carve-out transaction marks the full acquisition of Axillon Aerospace’s industrial composites business by Mearthane Products Corporation, representing the platform's latest programmatic transaction over a multi-year period and accelerating its long-term capital deployment strategy

02/2026ONE EQUITY PARTNERSGIOVANNI BOZZETTOITALYChemicals & Materials

One Equity Partners acquired a majority stake in Giovanni Bozzetto from the Canadian diversified holding company Aimia Inc. and Paladin Private Equity. The transaction followed Aimia's brief ownership period (since May 2023), during which the group expanded into Central America via the acquisition of StarChem

REFERENCES

Revenue range: 450M - 900M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of THIMM GROUP by SAICA GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: thimm group

Acquirer: saica group