SK Capital Completes Strategic Investment in Ecopol

15 September 2023

Ecopol S.p.A., a renowned developer and manufacturer of innovative biodegradable films and delivery systems, is excited to announce the successful completion of a strategic investment led by affiliates of SK Capital Partners, LP ("SK Capital"), a prominent private investment firm specializing in the specialty materials, ingredients, and life sciences sectors. SK Capital has acquired a majority stake in the company, while Mauro Carbone, Ecopol's CEO and controlling shareholder, retains a significant interest and continues to serve as both CEO and the largest individual shareholder. Additionally, a new Board of Directors has been established, featuring industry leaders with extensive expertise in sustainable materials and consumer packaged goods ("CPG") markets within Ecopol's value chains, including Jan-Dirk Auris, E. Craig Mitchell, Daniele Ferrari, and Dave Mezzanotte.

Mauro Carbone, Ecopol's CEO, expressed his enthusiasm, stating, "Ecopol is pleased to embark on this partnership with SK Capital and collaborate with a diverse team of high-impact industry executives who have joined our Board of Directors. I am excited for the next chapter of our journey as we work together to accelerate Ecopol's rapid growth and continue to make strategic investments to provide even greater value for our global customer base and bring more sustainable solutions to both existing and new markets."

He also expressed gratitude to outgoing Board Directors Roberto Quagliuolo, Luca Bucelli, and Laurent Labatut, and looked forward to Tikehau Capital's continued support as an ongoing minority shareholder.

Stephen D'Incelli, Managing Director at SK Capital, highlighted the significance of the newly formed Board of Directors, stating, "In partnership with Mauro, we have assembled a world-class Board of Directors who will be highly impactful in helping Ecopol execute its strategic priorities and achieve its vision to become the global leader in highly innovative and sustainable delivery systems. We look forward as a Board to supporting Mauro and his leadership team in driving Ecopol's next phase of transformational growth."

With the closing of the transaction, SK Capital and Mauro have appointed the following Board Directors:

Jan-Dirk Auris, who boasts over 35 years of experience at Henkel AG & Co. KGaA, where he held senior executive roles and served on the Henkel Management Board. Mr. Auris played a pivotal role in implementing performance management initiatives and sustainability efforts across Henkel.

E. Craig Mitchell, with over 35 years of experience in the specialty materials industry, currently serving as President, Flavors and Extracts Group at Sensient Technologies Corporation. He has held critical positions at global leaders in Ecopol's supply chain.

Daniele Ferrari, appointed as Board Chairman, brings over 35 years of experience in the specialty materials industry, including as CEO of Versalis S.p.A., Italy's largest chemical company. He has also served as President of the European Chemical Industry Council ("CEFIC") and President of Plastics Europe.

Dave Mezzanotte, with over 40 years of experience in the specialty materials and packaging sectors, previously served as Chairman and CEO of Coveris and as CEO of CHEP.

The Board of Directors also includes Mauro Carbone, Ecopol CEO and significant minority investor; Stephen D'Incelli, Deal Lead and Managing Director at SK Capital; and Josh Lieberman, Principal at SK Capital.

Latham & Watkins LLP provided legal counsel to SK Capital, while Crédit Agricole Italia S.p.A. and Intesa Sanpaolo S.p.A. served as lead arrangers and bookrunners, providing committed financing for the transaction. Legance and Alpeggiani Studio Legale Associato provided legal counsel, and STS Deloitte served as tax advisor to Ecopol, with UBS acting as financial advisor.