NEWS



  • 25/06/2020

    Cerea supports the growth of Axium, the PET & R-PET plastic packaging solutions specialist

    On 25th June 2020, Cerea Partners, acting through its Cerea Capital II fund, acquired the family-owned Axium group, the PET (recyclable) & R-PET (recycled) plastic packaging solutions specialist, in a primary LBO transaction. The group CEO and his team have reinvested significantly, while Bpifrance acquired a minority stake in the company.


    Based in France, Axium mainly designs and manufactures plastic packaging solutions for the food, healthcare and beauty sectors. The group's products are divided between flasks, plugs, and boxes. Most of the materials used in the process (PEP and PP plastics) are 100% recyclable and recycled.


    Created in 1968, Axium is headed by Yves Cury, the founder's son. The group has enjoyed strong organic and external growth acquiring Lapac (plastic injection) and KKT (German specialist for air-blown injection) in 2016. With more than 400 employees, the group is operating from 5 locations in France (3), Germany (1) and the Czech Republic (1) and generated € 60 million of revenues in 2019.


    Axium has an extensive history of developing lighter, recyclable, and recycled products, allowing the group to meet its clients' environmental expectations.


    The group is demonstrating strong resilience in the current, Covid-19 impacted, context, benefitting from strong demand for hydroalcoholic solutions' flasks and from on-going demand in the food sector.


    Following this transaction, Cerea owns a majority stake through the Cerea Capital II fund and Bpifrance has a minority stake. Yves Cury and his management team are significantly reinvesting in the operation.


    Yves Cury, Axium group's President : « We are very happy to welcome our new shareholders Cerea and Bpifrance. It is important for Axium Packaging to strengthen itself to meet tomorrow's new ecological and industrial challenges. Cerea's experience in the packaging sector, its expertise in the food industry and its business-oriented vision are a real plus for the development of Axium Packaging.


    "We are very pleased to invest alongside the Management team in order to accelerate the growth of Axium and take part in this new development stage", says Antoine Peyronnet, Managing Director at Cerea Partners. "The group has a strong growth track-record and we are convinced that Axium's recyclable and recycled plastic packaging solutions have great potential in view of the current trend favouring circular economics."


    The transaction financing was completed through a bank loan arranged by Caisse d'Epargne, subscribed also by Banque Postale, CIC, Banque Populaire and Crédit Agricole.

    Download the press release