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AMSTERDAM – June 21, 2021 – The Amsterdam office of global law firm Greenberg Traurig, LLP (GT) represented Andes C.V., an entity controlled by the US-based investment firm Andlinger & Co, in its sale of 100% of the share capital of Fineska B.V., the Dutch holding company of the Eska group, to Reno De Medici [BIT:RM], an Italian producer of recycled carton board. The Enterprise Value attributed to the Eska Group amounts to EUR 155 million, based on a EUR 24.6 million EBITDA for 2020. Parties signed an irrevocable subject to adhering to mandatory employee consultation procedures. Closing of the transaction is expected to occur in Q3 of this year.

The Eska group is known as a global leader in the production of solid board based on 100% recycled fibers in its two factories located in the Netherlands in Sappemeer and Hoogezand, with an overall installed yearly capacity of 290,000 tons. Solid-board applications range from luxury packaging to bookbinding, from puzzles and games to stationery.

With headquarters in Sappemeer, Eska, in addition to the two production mills, has three service centers with cutting and warehouse activities respectively in the United States, Italy, and Spain. It also has commercial offices in the UK and Hong Kong.

“We are very proud of our involvement over the years with Eska Group and watching it grow into global leader and in completing this successful cross-border transaction during the global pandemic,” Greenberg Traurig Corporate Practice Shareholder Thédoor Melchers, said.

The multidisciplinary GT Amsterdam team that acted as legal advisor to the seller was led by shareholder Thédoor Melchers (Corporate/M&A) and associate Rutger Sterk (Corporate/M&A) and further consisted of shareholders Thomas Timmermans (Employment), Marijn Bodelier (Regulatory), Jelmer Kalisvaart (ECM), Sabine Schoute (Finance),Thomas van der Vliet (Tax), senior associate Paul Schouten (Tax) and associates Monisha Sardjoe (Corporate/M&A), Jan Herfkens (Regulatory), Johan Nijmeijer (Real Estate), Maquina Lamé (Corporate Notarial), and Sahur Adam (Finance). 

In addition, from the GT Berlin office, Philipp Osteroth (Corporate/M&A) and Franca Biallas (Corporate/M&A); the GT London office, Henrietta Walker (Corporate/M&A); the GT Milan office, Valentina Bartolini (Real estate); and the GT Northern Virginia office, Kemal Hawa (Corporate/M&A) and John S. Jongbloed (Corporate/M&A), were involved in this cross-border transaction.

About Greenberg Traurig’s Corporate Practice

Greenberg Traurig’s Corporate Practice comprises more than 450 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.

About Greenberg Traurig, LLP

Greenberg Traurig, LLP (GT) has approximately 2200 attorneys in 40 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. The firm is net carbon neutral with respect to its office energy usage and Mansfield Rule 3.0 Certified. Web: