Cornerstone and Kartesia acquire Europe's Ecowipes Group

Cornerstone Investment Management - a private equity investor and Kartesia, a European specialist financing provider, has announced the acquisition of Ecowipes Group, a leading producer of biodegradable wet wipes. This acquisition marks a significant milestone in both companies strategic commitment to ESG investing. Notably, Ecowipes is second in a row - after a joint acquisition of Okechamp/Lutece last year - ESG transaction executed by both PE houses.

Ecowipes has an impressive track record of introducing ingenious products and is a pioneer in the field of producing biodegradable wet wipes made from sustainable natural materials with minimal environmental impact. The company has been an environmental and technological leader in the European wet wipes industry since 2011 and it has built an excellent reputation for quality, sustainability, and innovation.

“Our cooperation with Cornerstone and Kartesia will allow us to leverage our strong position across Europe and provide us with the financial backing to introduce more innovations in the future.” said Gabriel Kermiche, CEO and co-investor at Ecowipes. “We call ourselves the Earthchangers, and this partnership will put us closer to achieving our primary environmental goal, to supply consumers with hygiene products made only from natural-based materials at a reasonable price.”

“Our partnership with Ecowipes will mobilise the company to continue developing and offering ecologically clean consumer products," said Tomasz Pietrzak, partner at Cornerstone Investment Management. “We are aligned in our commitment to investing in sustainable and environmentally conscious businesses. This partnership will enable us to take a significant step towards a more sustainable future.”

Ecowipes, with currently two most technologically advanced factories in Europe producing wet wipes, hygiene buds and cosmetic pads, and being an expert in bio-degradable consumer product solutions makes it a unique asset on the market. The ESG strategy implemented by a company that is constantly seeking new sustainable innovations sets an example for other businesses, the company said in a press release.

“The positive ecological impact of the company’s biodegradable staple products was one of the key factors that convinced us to enter this partnership. The devotion of Ecowipes’ management to innovation, quality and sustainability fits with our sustainable investing approach and convinced us to commit to this transaction early on”, said Giuseppe Mirante, senior advisor at Kartesia.

 Cornerstone and Kartesia prove that investing in environmentally responsible companies focusing on delivering innovative, high-quality, and sustainable products is not only a trend but a necessity.