TEP Capital has signed an agreement to acquire 100% of the shares in ELA Wyrób folii i opakowań (“ELA”), a leading Polish manufacturer of flexible films and packaging solutions with annual revenues of approximately PLN 250 million.
Following completion, ELA will join Nicator Films, TEP Capital’s earlier investment from 2021, to form a new industrial group under the brand United Flexibles. The group aims to become a leading player in the flexible packaging sector through further acquisitions in the near future.
“The flexible packaging industry is undergoing rapid change,” said Tomasz Woźniak, Managing Partner at TEP Capital. “Scale advantages, synergies, increasing pressure from suppliers and buyers, and the presence of large international groups make consolidation not only logical but necessary. We see significant value creation opportunities through a focused buy-and-build strategy, and we are committed to financing this consolidation process actively.”
“We have been truly impressed by ELA’s dynamic growth, technical know-how, and the strength of its management team,” Woźniak added. “The company is a natural fit for United Flexibles, and we believe it will play a crucial role in shaping the future of the group.”
Upon completion, ELA will continue to operate independently under the leadership of its current management team. Mr. Kornel Laskus will remain CEO of the company continuing implementation of monomaterial vision for packaging market.
“Joining forces with TEP Capital under the United Flexibles brand opens up a new chapter for ELA ,” said Kornel Laskus, CEO of ELA. “This partnership gives us access to greater resources, broader capabilities, and a platform for intensified growth. It is huge milestone for us to build together strong group on flexible packaging market. Quality and flexibility that we are known for will remain on top level, at the same time our customers will benefit from a more comprehensive offering and increased operational strength.”
United Flexibles is actively pursuing additional acquisition opportunities and aims to build a regional champion in flexible packaging, with a strong focus on operational excellence, sustainability, and customer satisfaction.
The closing of the transaction is subject to antitrust clearance from the Polish Competition Authority (UOKiK) and the fulfilment of other customary conditions precedent.