A packaging firm with a base in Corby is under new ownership after being sold in a multi-million pound deal.
Solidus Solutions, which employs about 80 people in Arnsley Road, has been sold by Aurelius Equity Opportunities for 330 million Euros (£296 million).
The new owners of the company, which has factories across Europe, are US-based Centerbridge Partners.
Aurelius carved out Solidus from Smurfit Kappa four years ago and turned it into a standalone business.
It oversaw Solidus’ expansion into new markets in France, Germany and Spain and carried out a range of improvements and investments, included a £1 million gluing machine at the Corby factorytwo years ago.
Dr Dirk Markus, chief executive, said: “Since our acquisition of Solidus, the Aurelius task force team has provided hands on operational and support to the company, transforming it from an unloved orphan business into an independent, pan-European operation and true market leader in its field, with significant growth potential.
“Congratulations to Solidus’ management under the superb leadership of Richard Houben and the Aureliius task force that we placed into the business, all of whom did an outstanding job.”