Quantum Capital Partners (QCP) announced today that one of its investment funds has completed the sale of Barcelona Cartonboard S.A.U. to Reno de Medici S.p.A. – the leading Italian and second largest European producer of recycled fiber-based paperboard.

Founded in 1967, Barcelona Cartonboard operates in the coated paperboard sector, primarily using recycled fibers (WLC - White Lined Chipboard). In addition, the company produces paperboard from fresh fibers (FBB - Folding Box Board), a business area developed since late 2016. Headquartered and with production facilities in Castellbisbal, Catalonia, the company has an annual production capacity of 180,000 tons and employs approximately 230 staff. Quantum acquired Barcelona Cartonboard from Stora-Enso in October 2015 and carried out extensive investments in operational and machinery optimization totaling over EUR 18 million from 2016 to 2017, positioning Barcelona Cartonboard as one of the leading European paperboard mills in terms of production capacity, speed, and machine width. Today, the facility is one of the most modern in the world and is renowned for the exceptionally high quality of the paperboard it produces. Barcelona Cartonboard and QCP have undergone a three-year turnaround phase, during which they increased EBITDA from EUR 1.5 million in 2015 to a pro forma expected EBITDA of EUR 8.2 million in 2018. The purchase price is based on an Enterprise Value of EUR 46.4 million. QCP was advised by Pyöry Capital (M&A) and Fieldfisher Jausas (Legal). Steffen Görig, CEO & Founder of QCP: "We would like to thank Miguel Sanchez and his team for their three years of collaborative effort on this turnaround project. We are convinced that Barcelona Cartonboard will benefit from Reno De Medici's expertise in recycled paperboard production and will leverage economies of scale through its affiliation with this group."