Cornerstone acquires manufacturer of biodegradable wet wipes

Alina Oprea

19 July, 2023 at 6:00 PM

Cornerstone Investment Management, a CEE-based private equity investment management firm, acquired Ecowipes, a European manufacturer of biodegradable wet wipes, in cooperation with Kartesia, a European specialist financing provider. This acquisition is highly significant to the ESG strategy followed by both investors. Ecowipes is second in a row - after a joint acquisition of Okechamp/Lutece last year - an ESG transaction executed by both PE houses.

Ecowipes has been one of the top European producers of innovative and fully biodegradable nonwoven products since 2011.

The company's product portfolio comprises wipes, cosmetic pads, and cotton buds which are produced in a modern factory in Nowy Dwór Mazowiecki with a technologically advanced machinery park.

Ecowipes also cooperates with the largest retail chains in Europe, producing their private labels.

“It has been an immense privilege to advise and guide our client on this transaction. ESG issues are of key importance to Linklaters, and we are proud when we cooperate with sustainable and environmentally conscious businesses. This acquisition is a testament to the fact that businesses with a strong ESG focus can not only thrive but also drive significant positive impact on the world” said Marcin Schulz, partner in Linklaters Warsaw corporate practice.

The transaction was led by Marcin Schulz (partner), Klaudia Śliwka (managing associate), Michał Szperzyński (managing associate), and Natalia Burchardt-Mroczkowska (senior associate) from the Warsaw corporate practice.

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