On 27th February 2018, VLET Holdings S. a. r. l., a subsidiary of the Abris CEE Mid-Market III LP Fund managed by Abris Capital Partners Ltd. in close cooperation with Velvet CARE Board, signed preliminary agreement with AVALLON Fund to acquire a majority equity stake in Velvet CARE Sp. z o. o.
Within the past 4,5 years Velvet Care has developed in an unprecedented way, implementing the strategy outlined by the Management Board with the support of the AVALLON fund. During that time, the company has doubled its topline and it has invested nearly PLN 250 million in development, including the design of a new paper machine which is a key project for ongoing growth. The production capacity of Klucze factory has doubled and the demand for our products has increased several times. This was also reflected in the market results - strengthening the position of Velvet CARE as the market leader in paper hygiene products category and confirming the status of the Velvet brand as an innovator and the highest quality products on the Polish market.
Abris Capital Partners is an independent private equity fund which invests in Central & Eastern Europe. Abris manages the capital commitments of many prestigious, international institutional investors including university endowment funds, pension funds, insurance companies and private asset managers. For the past 10 years, Abris funds have been investing in local medium-sized companies, with sound fundamentals and exceptional development potential. Abris Capital Partners has already the experience in the field of paper hygiene products, is the owner of the Pehart Tec company - a leading manufacturer of tissue paper and hygienic products on the Romanian market. The key assumption of Abris's strategy is to create Polish and regional champions in their industries from companies that will reach their wings. These are also the ambitions for Velvet CARE. Our goal is to become a leader in the Central and Eastern Europe within a few years and to accelerate our already very dynamic growth thanks to the continuation of the Velvet Care management strategy and cooperation with a new partner.
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