BEWi acquires Synbra Holding B.V and change name to BEWiSynbra Group.

BEWi Group AB announced that it, through a Dutch wholly-owned subsidiary, had entered into a share purchase agreement to acquire all the shares in Synbra Holding B.V. with certain funds managed by Gilde Buy Out Partners and its co-investors as sellers.

Completion of the acquisition is subject to financing and regulatory approval.

BEWi further announced that it will assess the preconditions for a bond issuance in an expected initial amount of EUR 75 million to finance the acquisition of Synbra. The bond loan are to be listed at the corporate bonds list at Nasdaq Stockholm under a framework of EUR 100 million due in April 2022.

The proceeds will be used to finance the acquisition of Synbra in part and transaction costs, refinancing in part of Synbra’s existing financing and general corporate purposes.

BEWi Group manages and controls the entire chain from the manufacture of raw materials to finished products for the construction, packaging, and technical packaging industries. We invest in new techniques and development of innovative environmentally sound products, which creates value across the chain. As the market continues to grow, BEWi will also grow, both organically as well as through acquisitions in order to create positive synergies around purchases, raw material management, marketing information, customer focus, efficient production and administration.

BEWi Group is owned 48.5% by the Norwegian family Bekken through BeWi Holding, 48% by Verdane Capital Advisors and to 3% by Group management.