EVP Private Equity Fund Acquires Ukrainian Tissue Producer

Print this article | Send to Colleague

Europe Virgin Fund L.P. (EVF), a private equity fund sponsored by Ukrainian-based Dragon Capital, has acquired a majority stake in Tissico Limited, a Cyprus-based holding company for VGP, a major producer of sanitary products including toilet paper, paper towels, napkins, and handkerchiefs, located in Lutsk, western Ukraine.

VGP has about a 20% market share of tissue paper products in Ukraine and also has strong market positions in Belarus and Moldova and is present in most other CIS markets. The investment, made by means of a share capital increase, provides VGP with new capital to be used for expanding production capacities and strengthening its market position in both domestic and export markets. Illia Miretskyi, the previous majority owner of VGP, has retained significant minority shareholding in the group and will continue managing the company as CEO.

"To accomplish ambitious goals, one needs not only the necessary capital, but also the right partner. This investment makes us stronger and I am looking forward to intensified cooperation with our business partners and delivering even better products and services to our customers, Miretskyi noted.