Finlife advisor to Opac on the acquisition of Wet Wipes International

We are delighted to announce another successful cross-border transaction completed by our team. Opac, an Italy based company, part of the Italian industrial group OMET, specialized in the manufacturing and sale of wet wipes for a variety of usages, signed an agreement for the acquisition of Wet Wipes International, a Czech Republic based company engaged in the production and sale of various types of wet wipes, with a strong presence across eastern and central-northern Europe. The agreement marks a key step in Opac’s growth plan and is expected to generate strong commercial and manufacturing synergies between the two entities. Finlife acted as financial advisor to the buyer.

Under the terms of the agreement, Opac initially acquires a minority stake, which will rise up to majority within short time through the exertion of put/call options. In the meantime, the two companies will have the time to integrate their structures and operations. The founders and current administrators of Wet Wipes will remain actively involved in the business and will work alongside with Opac in developing the strategic plan.

The transaction marks a key step in the Opac’s expansion plan, enabling the Italian group to benefit from remarkable sales and manufacturing synergies with the target. Opac will enlarge its production capacity benefiting from significant cost advantages in Czech Republic, as well as will make available its product know-how to enrich the existing Wet Wipes’ offering with new formulations. Furthermore, the well-established market presence of Wet Wipes across some major large retailing chains in Germany as well as across the whole eastern and central-northern European area, will finally allow the Italian Group to penetrate a tough-to-enter yet highly strategic market with its existing products.

O-Pac s.r.l. is an Oggiono (Lecco), Italy based company successfully operating since many years in the manufacturing and sale of a wide array of wet wipes for several applications, including cosmetics, personal care, house cleaning, baby care, car cleaning and pet care. The company, which generates approx. 15 € millions in sales, is part of the OMET Group, an Italy based 100 € million sales group, engaged in manufacturing of machines for label and packaging printing, tissue converting, ball bearing handling systems and with interests in cosmetics.

Wet Wipes International s.r.o. is a Nelahozeves, Czech Republic based business, with a growing turnover of approx. 11 € millions, specialized in the manufacturing and sale of wet wipes for various usages, both private label as well as under its own brand (named “Wetties”), with a strong presence across eastern and central-northern Europe, Germany mainly.

Finlife Corporate Finance, with a team led by the managing partner Gerardo Dal Piva and the associate Alberto Furlan, acted as financial advisor to OMET – Opac, providing professional assistance in preliminary valuations, analyses, negotiations, structuring of the deal, due diligence support and definition of contractual agreements.

The law firm and Finlife’s business partner MDA provided legal assistance to OMET – Opac, with a team led by the partner Alessio Vianello.

Gerardo Dal Piva, managing partner Finlife commented: “We are extremely proud to have assisted the OMET-Opac group in its internationalization process. The acquisition of WWI has clear and significant strategic bases and we are sincerely happy to have contributed in reaching a win-win agreement where both parties achieved their objectives. This is a great start for a really successful collaboration.”

Antonio Bartesaghi, chairman of Omet-Opac commented: “We truly believe that WWI represents the right investment for our group. The company experienced a significant growth in the last years and we expect it to keep growing in the next future. We strongly believe that our product competencies together with WWI’s market presence and sales competencies represent the right ingredients to allow us to reach our objectives. We are extremely thankful to Finlife’s team who effectively run the negotiation process helping making it smooth and reaching a really satisfying agreement”.

 

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