We advised on the sale of shares in Velvet Care to Partners Group

GESSEL advised the management team of Velvet Care in the transaction to secure a new investor for the company in the person of Partners Group, a global private equity firm.

The project was international in nature and our involvement, in addition to participation in the negotiations, included coordination of English, Luxembourg and Dutch legal aspects.

The project was led by Maciej Kozuchowski together with Krzysztof Jasinski and Bartłomiej Woźniak  and Majka Rucińska.

The transaction team also included: Dominika Ramirez-Wołkiewicz, Karolina Krzal-Kwiatkowska, Katarzyna Olszak and Karolina Sobóla.

Velvet Care is one of the largest Polish manufacturers of paper hygiene products. The company, whose roots date back to 1897, currently employs around 850 people and its turnover in 2022 reached EUR 277 million.

We would like to thank the Management Board of Velvet Care for their trust and all the members of the GESSEL team for their contribution and involvement in this complex and demanding project.

“The sale of Velvet Care to the Partners Group is the third transaction concerning this company on which we had the pleasure of working. In 2013, we advised on the company’s management buy-out, supported by the Avallon fund, from Kimberly-Clark. We then supported the company at its successive strategic milestones and, in 2018, advised on the exit by Avallon and on the entry of a new investor, Abris. With this latest transaction, Velvet Care is being taken over by a third private equity firm, one with a global footprint. This, in itself, testifies to the ongoing success of Velvet Care which, over the past decade, has grown into a European powerhouse in its industry. For much of this time, Velvet Care was led by a management team headed by Artur Pielak. Congratulations are in order for Mr Pielak, his lieutenants, and the entire Velvet Care staff for taking the company from strength to strength !  In 2019, Avalon’s sale of Velvet Care to Abris was lauded as the Deal of the Year (Exit) in the annual Polish Private Equity and Venture Capital Association (PSIK) awards, and the present transaction will be a strong contender for similar honours next year” – said Maciej Kozuchowski, legal counsel and partner leading the GESSEL team on the project.