Alantra advises SCG Packaging on the acquisition of a majority stake in Deltalab
SECTORHealthcare
ServiceM&A
Hong Kong and Madrid – Alantra, the independent global mid-market investment banking, alternative asset management and credit portfolio advisory firm, has acted as financial advisor to SCG Packaging Public Company Limited (“SCGP” or “the Company”), a Thailand-based listed packaging solution provider, on the acquisition of a majority stake in Deltalab, S. L. (“Deltalab”), a medical supply and labware specialist in Spain.
The transaction elevates SCGP’s customers and products portfolio and enriches its global services capabilities while adding synergy to its existing production-related fundamentals. It also further establishes the basis for SCGP’s future expansions in the rapidly expanding Asia Pacific healthcare and medical supplies industry, with projected growths of approximately 7-9% annually. In the long term, this transaction allows SCGP to accelerate its higher growth and higher value-added prospects.
Deltalab is a recognized European manufacturer and distributor of high-quality medical supplies and labware, with over 15,000 SKUs and an annual output of 250 million pieces. Products range from liquid containers and tubes for vacuum systems, blood collection tubes, microtubes and flexible plates for real-time PCR, various types of pipettes for liquid handling, and cold (cryogenic) storage systems for vaccine and molecular biology among others. Some of these products are exported to over 125 countries. In 2020, Deltalab recorded revenue of €72.7 million, with assets of €54.3 million at the end of 2020.
SCGP, established in 1975 and recently listed on the Stock Exchange of Thailand (market cap of $5.9 billion as of July 2021), has been rapidly expanding its business to serve customers across South East Asia. SCGP is the largest comprehensive packaging solutions provider in ASEAN, with over 40 facilities in Vietnam, Indonesia, Malaysia, the Philippines, and Thailand which manufacture fiber-based packaging, performance & polymer packaging, and other diversified solutions.
This is the second transaction where Alantra and SCGP work together, having advised the Company in their first transaction outside the continent as a publicly listed company in 2020, when SCGP acquired 100% of the shares of Go-Pak UK, one of the leading foodservice packaging solution providers in the UK, European and North American markets. A transaction that enabled SCGP to grow in the European market as well as expand the business in the United States.
Iñigo Mateache, Partner at Alantra, said: “We are delighted to have supported SCGP on our second transaction together. SCGP‘s core is in consumer solutions, making Deltalab an excellent partner, leveraging the Company forward to the medical supplies and labware segment.”
