Actis sells Inpac International to Stora Enso28/10/10
Inpac services the demand from multi-national companies to outsource packaging to local companies and is a one-stop service provider to its customers.
Actis began its relationship with Inpac in 2007 with an investment of US$17.71m of growth capital, which helped the company strengthen its operations and increase sales despite the global recession of 2008/9. Stora Enso had known Inpac and Mr. Guo, the founder, for years. After watching the company sustain itself and emerge much stronger from the worst economic recession in 30 years, Stora Enso decided to acquire the company as part of its China growth strategy.
Commenting on the transaction, Mr. Meng Ann Lim, Actis Partner and Regional Head - China and SE Asia, said "Inpac's sales have doubled since we invested in 2007; Mr.Guo’s entrepreneurial drive and business acumen contributed to this growth. Actis has been privileged to fund Inpac's growth and help Inpac upgrade its operations and governance. We are gratified that our efforts to work with management and other shareholders have resulted in a strong company well recognized by Stora Enso."
“Actis’s investment came at a critical juncture of Inpac’s development and facilitated the company’s growth during the financial crisis”, said Mr.Guo.
Stora Enso is a global paper, packaging and wood products company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products.
The Group has some 27,000 employees and 88 production facilities in more than 35 countries worldwide, and is a publicly traded company listed in Nasdaq OMX in Helsinki and Stockholm.