On 30 June 2016, PHI Industrial Acquisition Partners completed the sale of Abelan North to the Aurelius Group. Pöyry Capital acted as financial adviser to PHI Industrial Acquisition Partners.
Abelan Group's German and Dutch packaging activities, "Abelan North", manufacture solidboard, coreboard and solidboard packaging, supplying demanding food and personal care clients with high quality packaging and coreboard solutions.
With the acquisition, Aurelius continues to expand its growth strategy in the packaging sector. The company has become a leading force in the Western European solidboard packaging market.
Alexander Wit, Managing Partner of PHI Industrial acquisition partners said: "We are proud of the excellent turn-around that the Company's management team and PHI has achieved in Abelan North since our acquisition from the Newark Group. We believe that Solidus is the ideal owner of Abelan North and will now be able to expand its regional footprint and invest in its operations and employees.
Pöyry Capital is the investment banking advisory arm of the Pöyry Group focusing on transactions in the energy, forest products and packaging industries.