Information/consultation procedures have been initiated with the relevant personnel works councils and the transaction should be finalised by the end of 2Q 2016.
Commenting on the operation, Pascal Lebard said: "Arjowiggins Healthcare is a valuable asset focused on the production of sterilisation packaging solutions for medical devices and has limited synergies with our other production activities. The proceeds from the planned sale would help strengthen Arjowiggins' financing capacity."
Thibaut Hyvernat, Managing Director of Arjowiggins Healthcare, said: "Sterilisation packaging is a global market in which both scale and specialisation are critical factors. By becoming an independent group backed by Meeschaert Private Equity, the planned sale would allow Arjowiggins Healthcare to continue pursuing its development strategy deployed over the past few years. The company's management team is delighted at this opportunity for a fruitful partnership with Meeschaert Private Equity. "
Arjowiggins Healthcare has leading positions in sterile packaging solutions via the Sterimed and Sterisheet brands. It produces and converts the papers and substrates used to package sterile medical devices such as syringes, healthcare kits, gowns, drapes, gauzes and catheters.
