Five Arrows negotiates majority control of EOS Corrugated

The shareholders of EOS Corrugated, including Sagard, Orso Partners, and the company's management team, have entered into exclusive negotiations with Five Arrows. If the transaction is successfully completed, the alternative assets arm of Rothschild & Co would become the new majority shareholder of the French industrial group.

Founded in 2009 and headquartered in Paris, EOS Corrugated operates as a critical supplier to the global corrugated board industry. The company specializes in mission-critical technical consumables required for the manufacturing, cutting, and printing of corrugated packaging. With 465 employees and sales in more than 130 countries, EOS holds a dominant market position, acting as the undisputed global leader in anvil covers and ranking third worldwide in corrugator belts.

The potential change in majority control is designed to finance the next phase of EOS's international expansion. Since Sagard acquired its majority stake in 2021, EOS has executed a steady buy-and-build strategy, completing five acquisitions to consolidate its geographic footprint and product portfolio, including recent investments to strengthen its distribution network in the United States.

The backing of Five Arrows, which manages over €34 billion in assets, would provide the necessary capital to accelerate this external growth. The strategic roadmap focuses on expanding into high-growth regional markets and broadening the company's offering into adjacent technical consumables, ensuring box plants maintain high-speed production with minimal downtime.

Under the proposed terms, the current management team would remain invested in the company alongside Five Arrows. The transaction remains subject to final agreements and customary regulatory approvals, highlighting the continued interest of private equity in highly specialized, recurring-revenue suppliers within the packaging supply chain.