Spanish private equity firm Portobello Capital has acquired a 100% stake in Poligof (the “Company”), a leading manufacturer of backsheets for hygiene and sanitary products in Europe, from 21 Invest.

The acquisition of Poligof represents the first international direct investment for Portobello and reflects Portobello’s ambition to extend the geographical scope of its investment strategy. Leveraging the expertise and know-how developed through 25+ years and 60+ direct investments in Spain, Portobello is actively looking for opportunities to partner with ambitious entrepreneurs and management teams of leading companies across Europe, and to support them during their next stage of growth.

Poligof was founded in 1979, it is headquartered in Lodi (Italy) and has a strong international presence (over 90% volumes sold outside Italy). The Company is one of the leading manufacturers of backsheet films in Europe, a semi-finished product primarily used for adult incontinence products and baby diapers

Poligof operates four facilities across Italy, India and Russia and has nearly 420 employees. The Company’s value proposition, based on an extensive and customized product portfolio coupled with a strong customer service (e.g., quality standards and lead times), has allowed Poligof to develop solid relationships with a loyal customer base of blue-chip clients.

Poligof will generate over €120m revenues in 2020 and will continue to be managed by the existing team, led by Luca Parolari (CEO).

“We are excited to announce the investment of Portobello Capital in our business. Portobello’s expertise in the industry, focus on value creation, long-term view and financial support will provide us with a unique opportunity to better serve our customers, consolidate our leadership in Europe, enter new markets and capture further growth” says Luca Parolari, Poligof’s CEO.

“Poligof has proven to have a solid and resilient business and is well-positioned to capitalize on the many opportunities available within the hygiene and sanitary markets. Our investment in Poligof aims to support the development of an industry leader in the backsheets industry underpinned by a strong presence in the winning segments, a clear strategy and roadmap, and an experienced and committed management team”, highlights Luis Peñarrocha, Partner at Portobello Capital.

About Portobello Capital

Founded in 2010, Portobello Capital is a leading independent mid-market private equity manager based in Spain. Portobello Capital has capital committed and under management worth more than 1,300 million euros across 5 different funds, a team of 30 professionals, and 17 companies in its portfolio.

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