Arjobex, a manufacturer of sustainable synthetic paper under the brand name Polyart for the printing, tag, and label markets, announces the acquisition of 100% shares of the MDV Group, with support from private equity firm Prudentia Capital. The Krishna and Reichert families, prior owners of the MDV Group, looked for a new investor to ensure their company’s future.
MDV is a manufacturer and coater of specialty papers and films for the print, packaging, medical, sign/display, and building industries. With two coating facilities in Germany and one HDPE blown film manufacturing facility in the U.K., the acquisition expands the Arjobex footprint in Europe.
Arnaud Roussel, CEO of Arjobex, states, “MDV perfectly fits the Arjobex core business of producing sustainable specialty substrates for niche and growing markets and will benefit from our strong international sales and marketing network in the U.S. and Asia.“
“With Arjobex, we have found the ideal investor to make MDV group even more successful and international,” says Ashok Krishna, the main shareholder of MDV.
With headquarters in France, the new entity will have a consolidated revenue of approximately 65 million Euros with 280 employees throughout six manufacturing sites in Europe and the United States.