NEWS
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15/02/2017
Sagard acquires Ipackchem three years after the spin-off carried out by Cerea Capital and Bpifrance
Ipackchem was created in 1987 by Jean-Philippe Morvan as a division of Air Products Group and is a leading global manufacturer of barrier packaging. Its products are mainly used in the transport and storage of aromas, fragrances and agrochemical products, for which permeability, contamination and evaporation constraints are critical.
At the time of the spin-off organised by Cerea Capital in 2014, the company was present in Europe through three facilities in France, the United Kingdom and Hungary. Its operations have since expanded to South Africa through an acquisition and more recently to Brazil with the inauguration of a greenfield plant, in line with its strategy to serve its main customers in all their geographies. The Group generates sales of around €M 60.
Sagard's acquisition of Ipackchem will give its management, who remain shareholders, the financial and human resources to pursue its international development, through both organic growth and acquisitions.
Jean-Philippe Morvan, CEO and founder of Ipackchem, commented: "After three successful years with Cerea Capital and Bpifrance, Sagard's acquisition secures the company's long-term prospects as well as the continuity of its strategy to support customers on a global scale. It's an acknowledgement of the quality of the work completed and an encouragement for the future which is greatly appreciated by our teams."
Gilles Sicard, Executive Managing Director of Cerea Capital, added: "It is a real pleasure for investors to back a management team able to so rapidly transform a non-strategic business of a large group into a dynamic and successful actor, globally. We wish Sagard and the team all the very best going forward."
Antoine Ernoult-Dairaine and Saïk Paugam, Partners at Sagard, concluded: "We greatly admire the achievements of Jean-Philippe Morvan and his teams. They have developed a remarkable company leveraging exceptional technical and marketing expertise in extremely attractive niche markets. We are delighted to have convinced Ipackchem's management and shareholders of our ability to support the company's future international expansion, in both Asia and North America."
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