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It has recently been announced that Pamplona Capital Management has entered exclusive talks to acquire Innovia Films.

Innovia Films, a global manufacturer of speciality products for the packaging and security markets – Biaxially Oriented Polypropylene (BOPP) and Cellulose based films – currently supplies polymer to be used as a banknote substrate to around 20 Central Banks. In February this year, Innovia Films acquired a 50% share in Securency International Pty Ltd, the producers of the polymer-based Guardian® banknote substrate.

It is thought that Pamplona is likely to pay in the region of £500m for Innovia. They are backed by Alfa Group, a company headed by the Russian oligarch Mikhail Fridman. The negotiations between Pamplona and Arle Capital Partners regarding the purchase have not yet been completed and could take several weeks to reach an agreement.

It is thought that the deal could be agreed around the same time that the Bank of England announces the outcome of a public consultation about a move to polymer banknotes. Innovia is viewed as a strong contender to win the role producing polymer banknotes for the UK should the decision to change from traditional banknote paper go ahead, though it faces heavy competition from De La Rue, the current producer of UK currency.

Source: Various news sources