Kartesia closes third Benelux deal with unitranche financing for P. Van De Velde

Kartesia is pleased to announce that it has provided a financing solution to P. Van De Velde (“the Company”).

P. Van De Velde is a Belgian, family-owned, packaging group active in the manufacturing and distribution of ecological cardboard packaging products and machinery for the food, retail and other FMCG industries. The Company has 12 plants across Europe, is operated by over 660 FTEs and holds more than 80 years of packaging experience.

This investment is a prime example of Kartesia increasingly emphasizing ESG as an investment criterion, as the products manufactured by P. Van De Velde allow for a reduced usage of single use plastics and contribute to a circular economy.

Kartesia has provided a unitranche loan to facilitate a refinancing of existing debt and support the group’s further growth. The unitranche was provided by Kartesia’s Senior Opportunities I fund and is the third investment from the fund this month in the Benelux following €50m unitranches provided to HPI Group and Intergrin earlier in July. The deal team at Kartesia comprised of Matthieu Delamaire, Jean Diercxsens, Gaëtan Valcke and Lise Campforts. Van De Velde was advised by Roel Haeseldonckx of Alexofin.

Philip Vanbelleghem, CEO at P. Van De Velde, commented: “I am very pleased with this partnership and value the support and flexibility Kartesia offers. We are excited to invest in the company’s growth and look forward to continue working together with the Benelux team.”

Jean Diercxsens, Director at Kartesia, commented: “We are delighted to announce the third deal for Kartesia’s senior debt strategy in the Benelux. We have been impressed with the robustness of the P. Van De Velde business and we are convinced that the group’s emphasis on an innovative, solution-oriented approach will allow it to further deepen its customer relationships and drive continued growth across Europe.”