Track record

08/10/2019

Bignon Lebray advises on an MBO of Arjowiggins Creative Papers group

A multidisciplinary team led by Neil Robertson, a Partner in the Bignon Lebray Mergers & Acquisitions department advised on the high profile Arjowiggins Creative Papers management buy-out (MBO).

This transaction enables the Arjowiggins group to continue its activities and secures the continuity of this iconic brand.

The Commercial Court of Nanterre approved the transaction and it followed an agreement on a takeover of the activities of Arjowiggins Creative Papers in the UK. In bringing these transactions together Bignon Lebray worked closely with leading full-service Scottish law firm Ledingham Chalmers.

The company had been in safeguard proceedings and was later placed into administration from January 8, 2019 following the insolvency of the parent company the Sequana group.

The transaction was made possible as the result of an offer made by a group of managers of Arjowiggins Creative Papers in collaboration with economic development agency Scottish Enterprise and backing from a number of strategic clients. The new group, which retains the Arjowiggins corporate name, will be managed by an experienced team under the leadership of the current Chief Executive Officer, Jonathan Mitchell.

This MBO has meant that four factories and more than 800 jobs worldwide have been saved and preserves the historic Arjowiggins trademark, the symbol of a 250-year heritage in paper manufacturing, which includes prestigious brands such as Conqueror, Curious Collection, Rives, Pop’Set and Keaykolour. It is the leader in the tracing paper market under the Gateway brand and also manufactures security documents as well as Powercoat for printed electronics. The team is very pleased to be able to continue such activities, some of which have existed for centuries: the Stoneywood factory in Scotland (1770), the Chartham factory in England (1738) and Guarro Casas in Spain (1698).

Legal advisors to management of Arjowiggins Creative Papers Group:
– Bignon Lebray, France: Neil Robertson, Partner, Philippe Larivière, Partner, Marie-Charlotte Diriart, Partner, François Vignalou, Partner, Quentin Dosda, Associate
– Ledingham Chalmers, Scotland: Peter Murray, Partner; Steve Morrice, Partner; Natalie Stevenson, Senior Associate; Jennifer Cham, Senior Associate; Andrew Stott, Senior Associate

Judicial Administrators:
– Thévenot Partners: Hélène Charpentier, Associate Judicial Administrator
– SCP Abitbol Rousselet: Frédéric Abitbol, Associate Judicial Administrator;

Creditors’ Representatives:
– SCP BTSG : Marc Sénéchal,
– Christophe Basse