New PartnershipCordial and NewPort Capital enter into partnership to further accelerate company’s growth
Cordial, a leading international developer and manufacturer of water- and natural polymer based industrial adhesives for both the paper- and cardboard industry, announces that it has entered into a partnership with NewPort Capital. NewPort's support will enable Cordial to further accelerate its already initiated growth trajectory.
With its high-quality adhesives and technical product expertise, Cordial has built a loyal customer base of international tier-1 customers, active in the paper- and cardboard industries. The focus from day one has been internationalisation, sustainability, innovation, added value for customers and 24/7 availability with knowledge and experience. Over the past 30 years and under Tanne Bosker's leadership, the company has experienced impressive international growth and established a leading position in the industrial powder adhesives and ready-made adhesives markets. In addition, Cordial has undergone strong professionalisation in recent years, leading to a strong foundation for further growth of the company. This growth involves both organic growth and possibly acquisitive growth through targeted strategic acquisitions. In the recent period Tanne Bosker has transferred his operational role to the management team and laid a solid foundation for Cordial to continue its growth with the support of NewPort.
NewPort is grateful to Tanne Bosker and very excited to work with Cordial's new CEO Stefan de Braaf, the management and the rest of the team to further shape this growth. Peter van den Anker, Partner at NewPort comments: "Cordial is a great company with innovative products, a loyal international customer base, a strong team and serves the broader paper- and cardboard processing industries, including the end-markets food, coating, industry, graphic and many others. We are looking forward to support the team to realise the strategy of both autonomous and international acquisitive growth. We are pleased to announce that Stefan de Braaf has been appointed as the new CEO, effective immediately. Stefan brings extensive experience and knowledge in organic and acquisitive growth, commercial and operational management, enabling us to shape the potential for growth even faster. The powder adhesives enable customers to reduce their costs and also significantly improve their impact on the environment."
Tanne Bosker, founder of Cordial, adds: "With the investment of NewPort, Cordial is able to realise its international growth ambitions. I am very proud of Cordial and also to transfer the company to the management supported by a professional and entrepreneurial investor as NewPort. I have all the trust in the combination and will remain available for advice whenever required.”
Cordial is a leading international developer and manufacturer of water-based industrial adhesives for both the paper and cardboard industry. The company serves a worldwide tier-1 customer base consisting of both national and international paper- and packaging producers, active in the broader paper- and cardboard processing industries for among others food, textile, industry and graphic end-customers. Cordial is the international market leader in the segment of (sustainable) powdered adhesives based on dextrin (modified starch) and other natural polymers. In 1998 Cordial was elected as ‘Enterprise of the Year’ in Groningen and received the prestigious Abel Tasman Award.
See also www.cordial.nl
NewPort focuses on investments in established Dutch companies with annual operating profits of €2 million to €10 million in the following sectors: ICT, food, packaging, manufacturing and financial and business services. NewPort enjoys working with - and supporting - entrepreneurial management teams in achieving organic and acquisitive growth.
See also www.newport.capital