One Equity Partners sells sustainable packaging firm Walki to Oji Group

Middle market private equity entity One Equity Partners (OEP) has finalized its agreement to transfer ownership of Walki Holding Oy, a leading pan-European supplier of sustainable packaging and engineered materials solutions, to Oji Holdings Corporation. The Japan-based Oji Group specializes in paper products technology.

A Glimpse into Walki

Walki, originating from Espoo, Finland in 1930, positions itself as a prominent specialty packaging materials manufacturer. Their extensive product range encompasses both consumer and industrial packaging designed specifically for specialty consumer products. Furthermore, their line includes innovative engineered materials, ranging from insulation and fire-retardant facings to sustainable membranes and applications for protective clothing. Globally, Walki operates 17 production sites and boasts a workforce of over 1,700 individuals. OEP’s successful acquisition of Walki culminated in July 2018.

Marc Lindhorst, Managing Director, One Equity Partners, said: “We are humbled by Walki’s performance under our ownership and were pleased to help the business execute on a transformative business expansion strategy with sustainability at its core.

“We collaborated with management to drive transformative growth opportunities in the packaging and engineered materials end markets while supporting the development of manufacturing methods with reduced adverse environmental effects.”

Walki’s Progress under OEP’s Ownership

During its tenure under OEP’s guidance, Walki witnessed an impressive surge in revenue, exceeding 125%. Their dedication to long-term environmental sustainability was reflected in the robust investments targeted at the development of alternative materials and innovative production techniques. These strategic measures offered clients a diverse array of packaging solutions, each designed to minimize environmental harm. In their commitment to sustainability and expansion, Walki successfully finalized seven acquisitions during OEP’s hold, a notable one being Plasbel Plásticos in 2021. This particular acquisition tapped into the growing demand for recycled and compostable packaging, leading to the significant expansion of their Valkeakoski facility located in Finland.

Leif Frilund, CEO of Walki, said: “One Equity Partners was a first-rate partner to our business over the last five years.

“OEP’s expertise in specialty manufacturing businesses like ours helped us to execute our sustainability strategy while continuing to grow the business. With their support, we have proven that consistent corporate growth and business development do not have to be mutually exclusive.”