H2 Equity Partners agrees to sell Reparenco to Smurfit Kappa Group

H2 Equity Partners is pleased to announce that it has agreed to sell Reparenco, a paper and recycling business in the Netherlands, to Smurfit Kappa Group plc (“SKG” or the “Group”), one of the world’s largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, for EUR 460 million.

Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation. Reparenco’s strong strategic fit with SKG’s existing European businesses is expected to deliver significant synergies in the near-term in a number of areas, including increased integration of containerboard and the recycling operations into the Smurfit Kappa Group.
Smurfit Kappa Group CEO, Tony Smurfit, commented: “We are pleased to announce our agreement to acquire Reparenco, successfully concluding a process which began on February 1st this year. The acquisition of Reparenco is complementary with our existing business; strengthens our integrated business model; and accelerates a central element of our medium term plan. We welcome all the Reparenco employees to Smurfit Kappa. We believe there is a strong cultural fit between our businesses and that, together, we will generate value in the short, medium and long term for all our stakeholders.”
Parenco CEO, Raymond Jolink, commented: “We are very thankful for the collaborative partnership with H2 over the last years. With the support of H2 we were able to implement our strategy for growth and innovation and strengthened our market position. At this time, we are delighted to become part of the Smurfit Kappa Group. With their extensive experience and expertise in paper-based packaging products SKG is an ideal partner for Reparenco. Together we can take our business to the next level.”

H2 Equity Partners partner Harmen Geerts, commented: ”We are proud of what we have achieved with Reparenco over the last years. And it was a great pleasure to work with the Reparenco team. Together, we have transformed the company in a highly competitive packaging paper business. We are convinced that we have found the ideal partner for Reparenco going forward in SKG. We wish Reparenco and SKG a successful future.”

Reparenco and H2 were advised by William Blair (M&A), McKinsey (commercial), Deloitte (financial/tax), Houthoff (legal) and Tauw (environmental).
For more information, please see the press release from SKG.

About H2 Equity Partners
H2 Equity Partners, founded in 1991, is an independent investment firm with offices in Amsterdam and London. H2 focuses on medium sized companies that are uniquely positioned and provide significant growth potential. H2 offers these businesses a combination of capital and active management support to realise the untapped potential. H2 has a robust, multi-sector track record in building stronger companies, with a suistanable competitive advantage and profitable growth.

Terry Musson

The Amberon Group is a market leading traffic management provider to the utilities and Local Authority markets. Amberon was established in May 2002 with our first depot in Paignton, South West England. Our founding core principles remain at the heart of everything that we do and our continued desire to achieve our purpose; to provide the best service in the Traffic Management sector. This has been the foundation for our success and has cemented our position as the market leader in TM.

During the initial transaction we never felt under any pressure & instantly recognised we would become part of the family. H2 took the time to listen to our views & business strategy, it was obvious from the very beginning that they would be the perfect partner for us.

The guys at H2 have enabled us to continue the momentum & have provided the expertise & knowledge to help us continue on the journey to constantly improve our service offering.

Working with H2 during the last 2 years has given us additional support not just financially but the advice & expertise has helped analytically & strategically.

The ambition and the drive H2 have is extremely infectious & continues to assist the group to overachieve.

It’s enormously reassuring to know H2 will always be at the end of the phone to offer advice but heartening to know they have the trust in us to deliver.