Standard Investment takes over production site in Liège, Belgium
Frankenthal (Germany), June 23, 2020 – For more than 60 years, RKW has committed itself to improving the daily life of consumers all over the world. Customer-focused solutions based on sustainable products are a vital part of our DNA. To tap into this vast potential, RKW has implemented a strategy focusing on core products and international growth markets, with a particular emphasis on the hygiene, packaging and agricultural sectors. In this context, RKW has decided to sell its production of embossed films and laminates for the medical industry RKW ACE S.A. (“ACE”) in Liège, Belgium.
ACE has been sold to Standard Investment, an investment company focused on the Benelux and Nordic countries. Standard Investment has acquired 100 percent of ACE’s shares. As of June 19, 2020, ACE operates as an independent business. The purchase price is not disclosed.
“Growth potential and sustainable profitability”
“We are convinced that ACE will remain a strong stand-alone business with great growth potential”, says Harald Biederbick, CEO of the RKW Group.
Established in 1973, ACE was among the first film producers for the hygiene and medical disposables markets. After becoming part of the RKW Group in 1999, ACE continued its business success and, today, is one of the global market leaders in its field of expertise. The company was an early member of EDANA, the global trade association for the nonwovens industry.
“RKW will cooperate with ACE during a limited transition period. This allows ACE to continue its journey, while at the same time enabling RKW to focus on its strategic markets and industries”, says Harald Biederbick.
“We enthusiastically welcome ACE into the SI family”, says Hendrik Jan ten Have, partner at Standard Investment. “Together with their management, we will actively support ACE’s journey towards becoming a more flexible organization focused on innovation and sustainability”.
Utilizing cast film extrusion technology, ACE manufactures cast embossed polyolefin films, laminates of film to nonwoven, and apertured films for the medical and hygiene sectors. ACE’s business mission is to continue to excel in the manufacture of film and laminate products, offering its customers consistent high quality, service and innovation. In the fiscal year 2019, ACE generated sales of EUR 30 million. The company employs a staff of 80 and, under its new ownership, continues to be led by Guy Pinchard, Patricia Featherstone and Régis Lamoline.
The RKW Group is an independent, privately owned company headquartered in Frankenthal, Germany and one of the world’s foremost manufacturers of excellent film solutions. RKW is the market leader in the areas of hygiene and agricultural films, films for the beverage industry and packaging for powdery goods. In addition, the company makes films and nonwovens for medical applications, for the chemical and converting industries as well as for the construction sector. RKW’s sustainable films enable its customers to improve the daily life of consumers all over the world.
In the fiscal year 2019, RKW generated total sales of EUR 831 million. About 3,000 employees process 352,000 metric tons of plastic materials at 19 locations around the world. True to the corporate slogan “When excellence matters”, the company, which was founded in 1957, offers outstanding performance in terms of quality and service. Respect and reliability are the core values of RKW and form the basis of the company’s success.
Standard Investment is a hands-on private equity firm focused on small and medium-sized enterprises in the Benelux and Nordics. Since its establishment in 2004, Standard Investment has acquired a portfolio of 16 companies, representing a total turnover in excess of EUR 800 million and employing about 3,500 employees. Standard Investment is known for its active involvement with its portfolio companies and actively seeks out investment opportunities in carve-out, growth and turnaround situations.
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Head of Communications RKW Group