KCE acquires CTL-TH Packaging
KCE (Kaizaharra Corporación Empresarial) announced today that the companies have entered into a definitive agreement pursuant to which KCE will acquire CTL-TH Packaging Group based in Vitoria, Álava (Spain).
CTL-TH Packaging, with a turnover of more than € 70M in 2019 and plants in Vitoria and Barcelona (Spain) and Vichy (France), is one of the leading companies in the packaging industry of flexible tubes with a solid portfolio of manufacturing technologies of extruded,injected and laminated tubes for the cosmetics, pharmacy, oral care and food industries.
The entry of KCE, carried out through a capital increase, reinforces the financial capacity of the company and aims to position CTL-TH Packaging as the manufacturer with the best offering in terms of products and services to respond to the transformations of the sector. Iñaki López Gandásegui, President of KCE, says: “We are very excited to work with the CTL / Tuboplast teams and take advantage of their experience, technological and innovation capacity, with the aim of maintaining and enhancing the leadership of the company. All this in close collaboration with our customers. ”
Imanol Sánchez, CEO of CTL-TH Packaging, considers the entry of this new majority shareholder as a new stage for the company “We want to welcome KCE as a new shareholder that joins our company. We will add their long-standing experience in business to our commitment to offer the best packaging solutions. After 55 years, we open a new chapter in which we will continue working hard to lead the sector, focusing on customer-centric management excellence. ”
PwC has acted as an advisor to Juan Celaya Corporation and Deloitte has been the advisor to KCE.
KCE is a Business Corporation based in Bilbao, founded and chaired by Iñaki López Gandásegui. KCE invests in medium-sized industrial companies based in Spain in order to take advantage of development opportunities through the strengthening of its technological, internationalization and management capabilities, and the use of synergies within the Corporation.
Among KCE’s investments, companies such as Aernnova Aerospace, Intimus, Gases Grit, Reig Jofre Laboratory or Azolgas Corporation stand out.