Abris Capital Partners announced today the sale of its entire shareholding in Alumetal SA, a secondary aluminium business headquartered in Kety, Poland. The exit was completed as part of the successful flotation of Alumetal on the Warsaw Stock Exchange. Prior to the IPO, Abris held a 55.6% shareholding in Alumetal – this entire holding was placed, principally with a group of Polish institutional investors, at a price of PLN 35 per share. At this price, Alumetal will have an initial stock market capitalization of PLN 528 million (€128 million). Abris acquired its interest in Alumetal in 2010. Under its ownership, the operations of the Alumetal group were significantly expanded with a new plant opened in September 2011. Under Abris ownership, the company has invested substantial sums in advanced technology and is now able to supply customers with a wide range of sophisticated aluminium alloys. Today, Alumetal employs in excess of 500 people and is one of the most technologically advanced businesses of its kind in Europe. The investment has been a profitable one for Abris and follows the two other successful exits Abris has already completed this year. The first was the IPO of the fleet management business – Masterlease - in March 2014, and the second being the sale of the Polish parcel delivery business – Siodemka - in May 2014. In aggregate, the three sales have realized over €240 million for Abris.
Commenting on the sale, Abris Chief Investment Officer Pawel Gierynski said “We are delighted that the IPO has been such a success. The investment has been a very good one for us but, as a public company, Alumetal now has the opportunity to start a new phase of its growth plans. We have the highest regard for the company and its management team and will watch their future development with interest.”