New York, NY and Luxembourg- Bregal Unternehmerkapital (“BU”) announced the sale of ATP Group (“ATP“), a leading manufacturer of water-based adhesive tapes, to Arsenal Capital Partners (“Arsenal”). The terms of the transaction were not disclosed.

ATP, headquartered in Wollerau, Switzerland, with production sites in Bad Kreuzburg (Germany), Philadelphia (USA), and Ipswich (United Kingdom), employs approximately 460 staff and has its own R&D capabilities to develop single- and double-sided high-performing industrial adhesive tapes, tailored individually to specific customer requirements. The products are manufactured on state-of-the-art coating machines and utilized by customers in a broad range of medical, mobility, construction, electronics, industrial, and graphics applications. Furthermore, being water-based, ATP’s high-quality adhesive tapes are also considerably more environmentally friendly than other adhesive solutions.

“We appreciate the hands-on support that Bregal Unternehmerkapital has provided us during our partnership,” said Daniel Heini, President and Chief Executive Officer of ATP. “Our commitment to environmentally friendly solutions provides a long-term growth opportunity for ATP. We are excited to partner with Arsenal to continue our global expansion and become the partner of choice of specialty water-based tapes to our international customer base.”

Felix Werdin, a Partner of BU, added, “We appreciate the continuous development of ATP by Daniel Heini and the entire ATP management team into the leading water-based adhesive tapes manufacturer. We are proud to have supported the team to accelerate the company’s overseas expansion over the past years, and we are convinced that ATP is well positioned for the next stage of its impressive growth trajectory with its new partner Arsenal.”

Roy Seroussi, an Investment Partner of Arsenal, commented, “We see a significant unmet need for environmentally friendly tapes across technically demanding end markets, and ATP is at the forefront of this substitution trend. Together with Daniel and ATP’s management team, Arsenal intends to accelerate the company’s global growth strategy through innovation, manufacturing extensions, and acquisitions.”

Morgan Stanley & Co. LLC acted as exclusive financial advisor to Bregal Unternehmerkapital and ATP. Houlihan Lokey served as a financial advisor to Arsenal.

About ATP Group
Founded in 1988 and headquartered in Wollerau, Switzerland, ATP is the leading developer, manufacturer, and supplier of all types of specialized, single-sided and double-sided water based adhesive tapes. ATP’s business model is driven by developing customized and bespoke products for its customers. The company has a well-established global distribution network and serves customers across 60+ countries worldwide. ATP pioneered water-based adhesive tape technology, which is significantly more environmentally friendly. For more information, visit www.atp-ag.com.

About Bregal Unternehmerkapital
BU is part of a family-owned business that has grown over several generations. The BU funds invest in mid-sized companies in the DACH region and Northern Italy across a wide range of sectors with a focus on market leaders and “hidden champions” with strong management teams and outbreak potential. With patient capital, entrepreneurial expertise and a partnership approach, our team works closely with entrepreneurs to develop, internationalize, and digitalize portfolio companies, and to help them generate sustainable value on a responsible basis.

PARIS, France and NASHIK, India, January 18^th, 2022 – Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, announces that it has completed the majority acquisition of Alcon Electronics on December 29^th, 2021. Alcon is a leading Indian designer and manufacturer of catalog and custom-designed film & aluminum electrolytic capacitors, specifically serving the renewable energy, induction heating equipment, medical imaging, power generation, and railways end markets.

Established in 1977 in Nashik, India, Alcon Electronics offers a wide range of film and screw terminal aluminum electrolytic capacitors for power electronic applications. Through continuous innovation and a focus on R&D, Alcon meets the evolving customized requirements and high-quality standards of its products and enjoys long-standing relationships with both Indian and international clients.

Since inception, Alcon has heavily invested in its state-of-the art facility in Nashik, India, becoming a niche-market leader in the country and competing with large international players.

With this partnership, Exxelia will benefit from the unique engineering capabilities of Alcon centered around testing & instrumentation equipment, leveraging it extensively within the group.

Paul Maisonnier, Chief Executive Officer of Exxelia, said: “We are excited to have Alcon join the Exxelia family! Alcon is an established, niche-market leader with great technology, very talented and committed teams and deep business and technical knowledge. Thanks to Alcon, we significantly strengthen our film and electrolytic product portfolio, and we gain a foothold in India which will allow us to better seize opportunities in this booming region and support our French customers with regards to their offset obligations”.

Siddharth Sachdev, Managing Director and Chief Executive Officer of Alcon Electronics, added: “Alcon is delighted to be a part of Exxelia, a people-centric passive component group focused on high reliability products for professional markets. We found ourselves sharing common values and vision and we believe that this combination enhances the capabilities of both groups to serve our combined customer base in film & aluminum electrolytic capacitors both in India and globally.”

KPMG India acted as the exclusive financial advisor to the shareholders of Alcon Electronics and Lincoln International acted as the exclusive financial advisor to Exxelia, for this transaction. On the legal side, Pioneer Legal, India acted as the legal advisors to Alcon Electronics and BTG Legal, India acted as the legal advisors to Exxelia.

Marie EVRARD
Marketing & Communication
Tel : +33 (0)1 49 23 10 66
marie.evrard@exxelia.com

Nordstjernan’s wholly owned subsidiary Rosti has acquired 100 percent of the shares in the US company Plastic Components, Inc. (“PCI”). The acquisition of PCI strengthens Rosti’s global position in plastic injection molding and creates a platform for continued growth in North America.

Rosti develops and manufactures injection-molded plastic components. The company’s offering includes container closures and lids for the food industry as well as manufacturing of components and complete products for selected consumer and industrial sectors. The company has manufacturing operations in China, Malaysia, Poland, Romania, the UK, Sweden, Turkey and Germany. Rosti had sales of approximately EUR 323 million in 2020.

PCI offers plastic injection molding in North America, with long-standing business relationships with a diverse customer base. The company – which boasts a high degree of innovation, with state-of-the-art production facilities in Germantown, Wisconsin, Clearfield, Utah and Cary, North Carolina – was sold by MPE Partners and a number of minority investors. The parties have agreed keep the full terms and conditions of the transaction confidential.

“Through the acquisition of PCI, Rosti is establishing a global footprint in plastic injection molding. This add-on acquisition is aligned with Nordstjernan’s focus on building leading international industrial companies,” says Nordstjernan’s CEO Peter Hofvenstam.

“M&A is an important part of Rosti’s growth strategy. We actively look for high-quality companies that can add new areas of expertise, geographic markets and customer segments. Through the acquisition of PCI, we are broadening Rosti’s customer base and creating an important platform for continued growth in the US. This will benefit our new and existing customers,” says Rosti’s Chairman Eric Persson.

Rosti is part of Nordstjernan’s Industry sector, which accounts for approximately one-fifth of Nordstjernan’s net asset value. In the Industry sector, Nordstjernan invests in industrial companies with an established business and which have long-term global growth potential.

Peter Hofvenstam

President and CEO

Nordstjernan AB
For more information, visit

Peter Hofvenstam, CEO, Nordstjernan

E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan

Telephone: +46 70 636 74 17

E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

Westpack, a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market, has partnered with Adelis Equity Partners (“Adelis”) for its next growth phase. Management will hold a significant ownership together with Adelis.

Westpack is a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market. The company’s customers are small, medium and large brand companies, as well as online and physical retailers.

Headquartered in Holstebro, Denmark, Westpack employs approx. 180 people, of which 150 are employed in Denmark and 30 people are employed in Asia. Westpack’s well diversified sourcing setup coupled with its own production in Denmark enables the company to serve its many customers with various types of packaging solutions. In recent years, Westpack has also seen a rapid growth in its B2B eCommerce business where customers place their own orders by adding their own logo to Westpack’s wide product assortment. The company has expanded its market presence throughout Europe in both its brand business and its online B2B business.

”Westpack is a market leader in a very fragmented market in Europe. The company has demonstrated that its business model creates great value for its customers. Westpack has outgrown the market for many consecutive years in both existing markets and by entering new markets, nevertheless the company’s market potential is still great,” says Martin Welna at Adelis.

“We see brand owners and retailers focusing more on ESG, reliability and flexibility in supply as well as design and development capabilities. Westpack has proven to be on the forefront on all of these parameters compared to competitors. The company’s value proposition is highly appreciated by its customers and the company has an outstanding customer satisfaction score. We are very excited about supporting this company in its continued growth,” Martin Welna at Adelis continues.

CEO at Westpack, Morten Dalsgaard, who continues as CEO and shareholder, is very satisfied with getting Adelis on board: ”With Adelis as new majority owner, we now have a great platform for continuing our international growth. With Adelis on the team, we will continue with our growth ambitions in our online business as well as expand our highly efficient production capacity in Denmark. These two elements, coupled with our strong and agile sourcing setup in Asia and Eastern Europe, are the cornerstones in our business model, which has demonstrated double-digit growth rates in recent years.”

“Adelis has shown a solid track-record of partnering with companies and actively contributing with a successful development, both in terms of organic growth and via add-on acquisitions. When it comes to add-on acquisitions, this is something we would like to take a closer look at. Adelis is very experienced in this field, and many of their portfolio companies have carried out successful add-on acquisitions. Westpack operates in a very fragmented market, so this is another good reason why our new majority owner is Adelis,” Morten Dalsgaard continues.

Adelis will become majority owner in Westpack, while management and key employees have invested a significant ownership stake in Westpack. Together, the parties expect to continue investing in an ambitious growth plan.

For further information:

Martin Welna, Adelis Equity Partners, +45 21 99 67 57, martin.welna@adelisequity.com

Joel Russ, Adelis Equity Partners, +46 73 543 30 68, joel.russ@adelisequity.com

Morten Dalgaard, CEO, Westpack, +45 41 71 75 81, mda@westpack.com

About Westpack A/S

Westpack design, develop, manufactures and sells special packaging and display solutions to more than 22.000 jeweler, watch- and glass retailers across Europe. Furthermore, Westpack provides tailormade solutions to more than 300 jewelry, watch and glass brands globally. The company is head quartered in Holstebro with its administration, sales and production. In Denmark, the company employs 150 people. Furthermore, Westpack has its own sourcing setup in China and Indonesia, where the company employs 30 people. Westpack was founded in Holstebro in 1953.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 30 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

Westpack, a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market, has partnered with Adelis Equity Partners (“Adelis”) for its next growth phase. Management will hold a significant ownership together with Adelis.

Westpack is a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market. The company’s customers are small, medium and large brand companies, as well as online and physical retailers.

Headquartered in Holstebro, Denmark, Westpack employs approx. 180 people, of which 150 are employed in Denmark and 30 people are employed in Asia. Westpack’s well diversified sourcing setup coupled with its own production in Denmark enables the company to serve its many customers with various types of packaging solutions. In recent years, Westpack has also seen a rapid growth in its B2B eCommerce business where customers place their own orders by adding their own logo to Westpack’s wide product assortment. The company has expanded its market presence throughout Europe in both its brand business and its online B2B business.

”Westpack is a market leader in a very fragmented market in Europe. The company has demonstrated that its business model creates great value for its customers. Westpack has outgrown the market for many consecutive years in both existing markets and by entering new markets, nevertheless the company’s market potential is still great,” says Martin Welna at Adelis.

“We see brand owners and retailers focusing more on ESG, reliability and flexibility in supply as well as design and development capabilities. Westpack has proven to be on the forefront on all of these parameters compared to competitors. The company’s value proposition is highly appreciated by its customers and the company has an outstanding customer satisfaction score. We are very excited about supporting this company in its continued growth,” Martin Welna at Adelis continues.

CEO at Westpack, Morten Dalsgaard, who continues as CEO and shareholder, is very satisfied with getting Adelis on board: ”With Adelis as new majority owner, we now have a great platform for continuing our international growth. With Adelis on the team, we will continue with our growth ambitions in our online business as well as expand our highly efficient production capacity in Denmark. These two elements, coupled with our strong and agile sourcing setup in Asia and Eastern Europe, are the cornerstones in our business model, which has demonstrated double-digit growth rates in recent years.”

“Adelis has shown a solid track-record of partnering with companies and actively contributing with a successful development, both in terms of organic growth and via add-on acquisitions. When it comes to add-on acquisitions, this is something we would like to take a closer look at. Adelis is very experienced in this field, and many of their portfolio companies have carried out successful add-on acquisitions. Westpack operates in a very fragmented market, so this is another good reason why our new majority owner is Adelis,” Morten Dalsgaard continues.

Adelis will become majority owner in Westpack, while management and key employees have invested a significant ownership stake in Westpack. Together, the parties expect to continue investing in an ambitious growth plan.

For further information:

Martin Welna, Adelis Equity Partners, +45 21 99 67 57, martin.welna@adelisequity.com

Joel Russ, Adelis Equity Partners, +46 73 543 30 68, joel.russ@adelisequity.com

Morten Dalgaard, CEO, Westpack, +45 41 71 75 81, mda@westpack.com

About Westpack A/S

Westpack design, develop, manufactures and sells special packaging and display solutions to more than 22.000 jeweler, watch- and glass retailers across Europe. Furthermore, Westpack provides tailormade solutions to more than 300 jewelry, watch and glass brands globally. The company is head quartered in Holstebro with its administration, sales and production. In Denmark, the company employs 150 people. Furthermore, Westpack has its own sourcing setup in China and Indonesia, where the company employs 30 people. Westpack was founded in Holstebro in 1953.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 30 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.