Houlihan Lokey Advises Plasbel Plásticos

Houlihan Lokey is pleased to announce that Plasbel Plásticos, S.A.U. (Plasbel) has been acquired by Walki Group Oy. (Walki), a portfolio company of One Equity Partners. The transaction closed on 28 April 2021.

Founded in 1988 and based in Murcia, Spain, Plasbel is the Spanish leader in the extrusion of sustainable and high-quality packaging solutions. The company has an undisputed position in the manufacture of post-consumer recycled and bioplastics products with main applications in food packaging and retail sectors. Plasbel has a wide customer base comprising more than 300 customers, being a key supplier to some of the leading European retailers. The company is also the European reference for the development of innovative materials to reduce the carbon footprint of the packaging industry, being very committed to the environment through more sustainable production, resource efficiency, and circular economy. During 2020, Plasbel generated annual sales of about €80 million and employed 290 people.

Headquartered in Finland, Walki is a European leading producer of technical laminates and protective packaging materials, specialised in fibre-based, intelligent, multi-layer laminate products for markets as diverse as energy saving construction facings to consumer packaging. The company received a majority investment by One Equity Partners in 2018 and has since completed several acquisitions in order to consolidate its leadership in Europe.

One Equity Partners is a middle-market private equity firm, with over $6 billion in assets under management, focussed on transformative combinations within the industrial, healthcare, and technology sectors in North America and Europe.

The acquisition of Plasbel will allow Walki to expand its product offering in sustainable recycled and flexible packaging solutions. In addition, the complementary R&D capabilities will help the combined entity become a leading bioplastics converter with attractive expansion opportunities across Europe. Plasbel will support the continued growth of Walki’s films and bags business and become part of its global consumer packaging division.

Houlihan Lokey served as the exclusive financial advisor to the shareholders of Plasbel and assisted in successfully structuring and negotiating the transaction. The sale of Plasbel represents another successful transaction for Houlihan Lokey in Spain and highlights the firm’s capabilities and dedicated sector expertise advising industrial companies and working with family-owned businesses.