Active Capital Company and management is acquiring a majority stake in Codi Group from Value Enhancement Partners (VE Partners) for an undisclosed sum. Codi makes and produces wet wipes for a wide range of consumer applications, serving both high end consumer brands and retailers from production sites in Veenendaal and Venray, The Netherlands.

VE Partners has owned Codi since 2013, when it purchased the company from Suominen. Since then, Codi has grown fast, both autonomously and via the acquisition of Incare in Venray.

“We are very happy to step up our growth initiatives and realize our ambitious strategy,” says CEO Erik van Deursen. “Over the last years, Codi has successfully focused on internal optimization and broadening our customer base to create a solid platform for future growth. With the investment from ACC out of its new fund, we have ample time and funds to realize our growth targets, both autonomously and via add-one acquisitions.

Codi combines the 60-year-old business of Codi International and Incare as well as Sweeps, a unique wet wipes brand formed in 2014 based on natural fibers targeting consumers on-the-go via multiple convenience channels. Under its new ownership, Codi hopes to achieve its goal of becoming a top three player in Europe.

Based in Amsterdam, ACC focuses on companies that are headquartered in the Netherlands, operating in industrial goods and services and having a  revenue between €10-80 million.  The company has experience in nonwovens-related goods, in January, the company sold Lantor, a maker of nonwovens for the cable and composites industry, two years after purchasing it. Under ACC’s ownership, Lantor grew quickly both in the Netherlands and abroad and was sold sooner than expected when a knowledgeable investor, Cathay Investment, was found.