Industrias de Transformación de Andoain and Itasa Asia have been sold to Magnum Industrial Partners

Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Industrias de Transformación de Andoain, S.A. and Itasa Asia SDN. BHD. (collectively referred to as “ITASA” or the “Group”) have been sold to Magnum Industrial Partners, S.L. (“Magnum”). Terms of the transaction were not disclosed.

Headquartered in Andoain, Spain, ITASA is a leading manufacturer of release liners for a wide range of end markets serving a diversified customer base. With a unique focus on solvent-free, paper-based applications and over 40 years in operation, the Group has invested in the capacity and advanced capabilities necessary to serve the most demanding customers with the highest levels of quality and reliability. The Group has five fully invested state-of-art production lines with an annual production capacity of over 700 million sqm.

With over 180 employees, ITASA operates three facilities located in Spain, Mexico and Malaysia. Recently acquired, the plant in Asia will allow the Group to broaden global capacity and expand product portfolio with film-based applications.

“We were very impressed with Lincoln’s senior-level attention throughout the deal process and ability to overcome obstacles to get us to a successful closing which resulted in a very favorable outcome for the shareholders,” noted Francisco Javier Pagola, Purchasing Director and shareholder of ITASA.

Emilio Arocena, Finance and Human Resources Director and shareholder, added, “The Lincoln team had a fundamental understanding of ITASA’s value proposition and acted as a partner to management from day one. We are eager to embark on the next phase of the Group’s continued growth with Magnum, who we believe will be an excellent partner to help grow ITASA to the next stage of its development.”

Lincoln acted as the exclusive sell-side advisor to ITASA, working closely with the management team and shareholders throughout the sale process to provide advisory expertise and manage the marketing, due diligence and negotiation phases of the transaction.

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