The paper manufacturing industry in Europe is a vital sector that produces various paper products, including printing and writing papers, packaging materials, and specialty papers. This industry is populated by companies ranging from multinational corporations to niche players who focus on sustainability and innovation. As environmental concerns rise, companies increasingly adapt green practices and invest in recyclable materials. The industry is incorporating advanced technologies like digital printing and automation. Moreover, a shift towards circular economy principles is evident as firms aim to minimize waste, indicating a promising direction for future growth and sustainable practices in the paper sector.


The investment landscape for paper manufacturing in Europe includes a range of investors such as private equity firms, venture capitalists, and corporate entities. Predominantly based in major financial hubs like Luxembourg, Paris, and London, these investors vary in size, from a handful of employees to thousands. Founded from as early as 1958 to as recently as 2018, their activity in 2024 showcases a balanced focus on innovation and sustainability, with notable transactions aligned with the industry's growth trends. With more than 400 deals collectively executed, they reflect a vibrant interest in shaping the future of paper manufacturing.


Top 14 Paper Manufacturing Investors in Europe


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has made significant investments in the paper manufacturing industry, including grants and funding rounds for companies like Releaf Paper and Creapaper, which focus on sustainable paper solutions. For instance, Releaf Paper raised over $2.6 million in a grant in December 2022, while Creapaper secured both a grant and venture funding in 2020, highlighting the EIC's commitment to advancing innovation in the paper sector.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital firm based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The firm aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the paper manufacturing context, such as its investment in Coqli, a Vosges-based start-up that specializes in custom and personalized cardboard packaging, raising 650,000 euros to support its industrial development. This investment highlights Bpifrance's engagement in the paper sector. Additionally, while other transactions like those involving Lactips and Pili focus on different industries, they showcase Bpifrance's broader commitment to supporting innovative companies across various sectors.


3. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi has been involved in several transactions that align with sustainable practices and innovations relevant to the paper manufacturing industry. For example, their investment in Biofiber Tech Sweden, which focuses on sustainable materials, and their backing of GAIA BioMaterials, which is involved in the development of biomaterials, highlight their commitment to supporting companies that may impact the paper sector positively. Additionally, their participation in funding rounds for companies like Hoting Innovations, which is setting up a production facility, further illustrates their active role in fostering innovation that could benefit the paper manufacturing landscape.


4. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010, enabling startups and SMEs to raise capital through equity investments. The platform connects businesses with potential investors, promoting diversity and inclusion within its workforce while providing investment management services. Notably, Crowdcube has facilitated funding for companies in the paper manufacturing context, such as Envopap, which raised $1,457,720 in a seed round in January 2020, focusing on sustainable paper solutions. Additionally, they have supported Flexi-Hex, which raised over $1 million in equity crowdfunding, providing innovative packaging solutions that reduce paper waste. These transactions highlight Crowdcube's role in supporting businesses that contribute to the paper manufacturing industry, alongside their broader investment activities.


5. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity investment firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse portfolio, but it has made notable investments in the paper manufacturing sector, including the acquisition of Lecta, a leading manufacturer of specialty papers, in 1997, and the acquisition of AR Packaging in 2016, which reported sales of approximately €560 million in the packaging sector. These transactions highlight CVC's commitment to delivering sustainable value and growth through strategic investments in the paper and packaging industries.


6. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In 2024, the EIB has been involved in 99 investments, demonstrating its active role in financing diverse initiatives. Among its notable transactions in the paper manufacturing context, the EIB signed a EUR 435 million bilateral loan with Stora Enso to support its EUR 1 billion investment in a new consumer board production line at its Oulu mill in Finland. This project emphasizes the EIB's focus on renewable and sustainable practices in the paper industry. Additionally, the EIB participated in funding rounds for companies like Packhelp, which focuses on sustainable packaging solutions, further showcasing its commitment to supporting the paper manufacturing sector and related industries.


7. Andritz

  • Website: andritz.com
  • Type: Corporate
  • Headquarters: Graz, Styria, Austria
  • Founded year: 1892
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: andritz

Andritz AG, founded in 1892 and based in Graz, Styria, Austria, is a leading technology provider specializing in industrial equipment and solutions across various sectors, including pulp and paper, metals, and energy. With a workforce of over 10,000 employees, Andritz focuses on enhancing operational efficiency and sustainability for its business customers through innovative and digitalized solutions. Notably, Andritz has made strategic acquisitions in the paper manufacturing sector, including the acquisition of Paperchine Inc. in 2017, which is a global supplier of equipment and services for the paper industry. Additionally, in 2019, Andritz acquired Kempulp, a Swedish company specializing in process technologies for the chemical pulping industry, integrating its expertise into Andritz's Pulp & Paper organization. These transactions highlight Andritz's commitment to advancing the paper manufacturing industry and its capabilities in providing essential technologies and services.


8. Fedrigoni Group

  • Website: fedrigoni.com
  • Type: Corporate
  • Headquarters: Milan, Lombardy, Italy
  • Founded year: 1888
  • Headcount: 5001-10000
  • Number of deals in 2024: 5
  • LinkedIn: fedrigoni

Fedrigoni Group, founded in 1888 and headquartered in Milan, Lombardy, Italy, is a corporate investor and a leading paper manufacturer specializing in the production of special papers and self-adhesive materials. The company serves a diverse clientele, including designers, printers, and converters, by providing innovative solutions for luxury packaging and creative communication. With a strong commitment to sustainability and quality, Fedrigoni operates in multiple countries, offering a wide range of products to meet customer needs. In recent years, Fedrigoni has made significant acquisitions to bolster its position in the paper manufacturing industry. Notably, in February 2024, they acquired a part of U.S.-based Mohawk Fine Papers, aiming to eliminate its debt and preserve jobs while expanding their distribution capabilities in North America. Additionally, they acquired Ritrama in October 2019 and Zuber Rieder in November 2022, both of which enhance their offerings in specialty papers and luxury labels. These strategic moves reflect Fedrigoni's ongoing commitment to growth and innovation in the paper manufacturing sector.


9. Tikehau Capital


Tikehau Capital is an investment management firm based in Paris, specializing in alternative asset management. Founded in 2004, the firm offers a diverse range of services including private debt, private equity, real assets, and capital markets strategies. Tikehau Capital serves a broad clientele, including institutional and private investors, as well as SMEs seeking tailored financing solutions to support growth and sustainability initiatives. Notably, Tikehau Capital has made significant investments in companies related to the paper manufacturing sector, such as their acquisition of a 25% stake in Brandart Spa, a sustainable packaging solutions provider, in September 2023. This investment highlights their commitment to supporting companies that contribute to sustainability in the packaging and paper industry. Additionally, their involvement with companies like Addev Materials and Ecopol further demonstrates their active engagement in sectors that intersect with paper manufacturing.


10. Head of Data Technology Office at Intesa Sanpaolo


The Head of Data Technology Office at Intesa Sanpaolo is part of a major banking and financial services provider based in Turin, Italy. Founded in 2007, Intesa Sanpaolo offers a wide range of financial products, including loans and investment management services, catering to both individual consumers and businesses. In 2024, they have been involved in 31 investments, showcasing their active role in the financial market. Notably, they participated in significant debt financing transactions for companies in the paper manufacturing sector, including a substantial $1.2 billion raised by Fedrigoni, a prominent player in the paper industry. Other relevant transactions include debt financing for Ecopol and Goglio Group, further indicating their engagement with companies that operate within or are connected to the paper manufacturing industry. This involvement highlights their capacity and interest in supporting the growth of businesses in this sector.


11. IDIA Capital Investissement


IDIA Capital Investissement is a private equity firm based in Montrouge, Île-De-France, France, founded in 1980. The firm specializes in supporting small and medium-sized enterprises (SMEs) and mid-sized companies (ETIs) in their growth through investment management services and strategic guidance. IDIA Capital Investissement focuses on various sectors, including agro-food, energy transition, and viticulture. Among their notable transactions, they have invested in Fellmann Cartonnages, which is involved in the production of cardboard and paper products, indicating their engagement in the paper manufacturing sector. Other investments include Sphere, Axereal, Moulins Dumee, and LGI Wines, showcasing their diverse portfolio. While their involvement in paper manufacturing is evident through specific transactions, their overall investment strategy encompasses a wider range of industries.


12. Zeus Packaging


Zeus Packaging, founded in 1998 and based in Dublin, Ireland, is a corporate investor specializing in packaging solutions. The company offers a diverse range of innovative and sustainable packaging products and services, catering to various industries including Retail, Food, and Pharmacy. In recent years, Zeus Packaging has expanded its portfolio through strategic acquisitions, particularly in the paper manufacturing sector. Notable transactions include the acquisition of Cima Paper S.p.A. in June 2023, which enhances their capabilities in paper production. Additionally, their acquisition of Polpack in February 2023, a distributor of packaging materials, further solidifies their presence in the packaging and paper industry. These acquisitions are part of Zeus's broader strategy to enhance operational efficiency and sustainability in their offerings, aiming to increase their revenues significantly across Europe.


13. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity based in Helsinki, Uusimaa, Finland, established in 2018. It plays a vital role in supporting Finnish companies in their growth and internationalization efforts by offering funding, consulting services, and market opportunities. Business Finland has been involved in various transactions, particularly in the paper manufacturing context, such as its multiple grants and investments in Spinnova, which raised significant amounts through grants and debt financing. For instance, Spinnova raised over $13 million in post-IPO debt and received several grants totaling over $8 million, showcasing Business Finland's commitment to fostering innovation and sustainability in the paper manufacturing sector.


14. Deutsche Beteiligungs AG

  • Website: dbag.com
  • Type: Private Equity
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1965
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: deutsche-beteiligungs-ag

Deutsche Beteiligungs AG is a private equity firm based in Frankfurt, Hesse, Germany, founded in 1965. The firm specializes in investments in mid-sized companies, providing capital and advisory services to enhance their growth potential. With over 55 years of experience, Deutsche Beteiligungs AG has a successful fund advisory business and focuses on various sectors, including telecommunications, IT services, software, and healthcare. Notably, the firm has made significant investments in companies related to the paper manufacturing industry, such as the acquisition of Infiana Group in February 2015, which specializes in specialty films and paper products. This investment highlights Deutsche Beteiligungs AG's involvement in the paper sector, alongside other acquisitions like Cartonplast Group and FRIMO Group, which, while not directly in paper manufacturing, showcase the firm's diverse investment strategy and capability to support growth in various industries.



Paper Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
AlmiStockholm, Stockholm, Sweden201-50019947
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
CvcLuxembourg1001-5000200516
European Investment Bank (EIB)Luxembourg1001-5000195899
AndritzGraz, Styria, Austria10001+18925
Fedrigoni GroupMilan, Lombardy, Italy5001-1000018885
Tikehau CapitalParis, Île-De-France, France501-100020046
Head of Data Technology Office at Intesa SanpaoloTurin, Piedmont, Italy10001+200731
IDIA Capital InvestissementMontrouge, Île-De-France, France11-5019801
Zeus PackagingDublin, Dublin, Ireland1001-500019981
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
Deutsche Beteiligungs AGFrankfurt, Hesse, Germany51-20019652


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