Solidus strengthens financial position and future prospects with additional investment under financial restructuring and new ownership

Groningen, Wednesday 26 February 2025 – Solidus (the “Company”), a leading specialist in solid board and solid board packaging, announces a financial restructuring to improve the Company’s financial health. In addition, Solidus will undergo a full strategic review to strengthen its go-forward operations.

A group of leading financial institutions representing the majority of the Company’s senior lenders (collectively, the “Investor Group”) have agreed to inject new capital into Solidus, and convert most of its preexisting debt to equity, thereby significantly reducing leverage and strengthening the future prospects of the Company.

Under the transaction, the Investor Group will become majority owners of the Company. Solidus’ current owner is fully cooperating in transferring its ownership to the Investor Group. The transaction will be concluded in the coming weeks, subject to the fulfillment of customary conditions. 

Strategic review

In addition to the financial restructuring, Solidus will undertake a full strategic and operational review in effort to restore the Company’s performance and drive future growth. With a more focused strategy and rationalized cost base in combination with new capital and significantly lower debt, Solidus has ample opportunity to benefit from a strong position as a specialized market leader in attractive international market segments.

Dialogue with social partners

Management and the Investor Group maintain a constructive dialogue with the Works Council and unions throughout the process and the upcoming strategic review.