Group

The Induplast Group acquires Petroplast S.A.

2/3/2022

The Induplast Group acquires Petroplast S.A., a Spanish company active in the plastic market for the cosmetic industry.

 The company with a turnover of approximately 6 million euros will be entirely controlled by the Induplast Group. Petroplast S.A.'s founding family will reinvest alongside the / in the Group to continue supporting the company's growth and development.

The Induplast Group ("Group" or "Induplast"), one of the national leaders in the packaging sector for the cosmetics and beauty care industry, has finalized the acquisition of the entire capital("Transaction") of the Spanish Company Petroplast S.A.("Petroplast" or "Societ") from the family founder who will reinvest alongside the Group to support the future growth of the company.

Petroplast, which achieved a turnover of about 6 million euros in the last financial year, has operated for over 30 years in the packaging sector and is considered among the Spanish leaders in designing, producing, and distributing high-quality flexible plastic tubes.
The main market of Petroplast is constituted by the cosmetic sector, although the company also has customers of primary standing in the Do-It-Yourself sector.

The Transaction has a strong strategic rationale. It will allow the Group to expand its product portfolio, penetrate the segment of plastic tubes for the cosmetic sector, be expected to grow strongly, and consolidate its presence abroad by generating significant cross-selling synergies. Furthermore, Transaction is in line with the path already undertaken by the Group in the last few years of aggregation of companies of excellence in the sector.

The Group was born from the merger project of some Italian players, leaders in specific applications in the cosmetic packaging market. In 2021 it recorded a turnover of approximately 42 million euros with high margins and a historical trend of solid growth.

In October2021, the Induplast Group was acquired in equal measure by Armonia SGR S.p.A. through the Private Equity Armonia Italy Fund and Azimut Libera Impresa SGRS.p.A., with the Private Equity Fund Azimut Demos 1.

Both shareholders expressed their satisfaction with the new acquisition and for the growth strategy adopted by the Group.

Mario Musolino, CEO of the Induplast Group, commented: "We are a lot satisfied with this operation which sees Petroplast joining our family. This new one stage of our growth path brings a further expansion of the offer portfolio ofGroup for our customers and represents a strengthening in a market of great interest to us".

The Induplast Group was assisted by KPMG (legal advisor, legal, financial and tax)and Legacy - Avvocati Associati (legal advisor).

Javier Alonso, Director of Petroplast, will continue in the development of this new project and has commented: “During recent years we have sought to belong to a solid group so that this business project continues and develops; the philosophy of the companies that make up the Induplast Group is very similar to ours and this has been a determining factor in the final decision.”

 

Check Petroplast website here.

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