Altor to acquire Trioplast
On March 29th, Altor Fund IV (“Altor”) signed an agreement to acquire the leading European manufacturer of sustainable and high-tech plastic film, Trioplast Industrier AB (“Trioplast”). Altor and key executives in the management team will own 100% of the shares.
Trioplast is a leader within recycling of used plastics and the use of renewable raw materials. Trioplast’s products are critical in the transportation of industrial products, farming and forestry products as well as for instance creating a hygienic work environment in a hospital operating theatre. Trioplast has a turnover of 4.3bn SEK and approximately 1 000 employees. The company’s main office is located in Smålandsstenar. Production is located in Sweden, Denmark and France and the products are sold all over the world.
Trioplast was founded in 1965 by Vilhelm Larsson in Smålandsstenar. Since 1984 the company is owned by Vilhelm’s son, Bo Larsson, who has developed the company into a leading player in Europe.
”We are proud to become owners of a Swedish industrial treasure like Trioplast, “says Bengt Maunsbach, Partner at Altor.” We are impressed with the company and the management team and we look forward to developing the company further. We believe that there is a lot of potential in the many high-tech product segments and we will keep investing in new technology to produce sustainable plastic,” Bengt Maunsbach continues.
”We are happy to have Altor as new majority owner,” says Andreas Malmberg, CEO of Trioplast. “Altor has a long-term perspective and we have a common view of how to develop Trioplast into an even stronger partner for its many customers,” Andreas Malmberg continues.
“We welcome Trioplast to the Altor portfolio. Altor has a long history of acquiring well-managed family owned companies and developing them, examples of this include Piab, Dustin and Byggmax. We believe that Trioplast has potential to develop in a very positive direction,” says Harald Mix, founder of Altor.
The transaction is subject to customary regulatory requirements and approvals.
For more information, please contact:
Andreas Malmberg, CEO of Trioplast, Tel: +46 70 208 72 91
Tor Krusell, Head of Communications at Altor, Tel: +46 70 543 87 47
About Altor
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Apotek Hjärtat, Carnegie Investment Bank, Dustin, Helly Hansen, Lindorff, Piab and SATS ELIXIA. For more information visit www.altor.com.
About Trioplast
Since over half a century Trioplast has built strong partnerships with customers to improve their safety, productivity and profitability. Based on the company core values: Reliable, Long-term, Active, employees of Trioplast bring innovative and sustainable plastic film products and solutions to a global market. For more information visit www.trioplast.com.