List of 24 Small Packaging Private Equity Firm Investors in Western Europe

Investor	PE Assets $mlns	Portfolio		M&A Activity Buy vs Sell, Last 5 Years
Investor	PE Assets $mlns	Total	Current	M&A Activity Buy vs Sell, Last 5 Years
KeBeK Private Equity Strombeek-Bever, Belgium Private Equity Firm • 2013 • website See all 4	-	20	12
Torqx Capital Partners Bussum, Netherlands Private Equity Firm • 2017 • website See all 8	169	19	16
Arcadia SGR Milan, Italy Private Equity Firm • 2008 • website See all 6	150	10	7
Écart Invest Den Haag, Netherlands Private Equity Firm • 1993 • website See all 2	-	33	9
NCI Rouen, France Private Equity Firm • 1999 • website See all 1	225	27	27
Navigator Capital Munich, Germany Private Equity Firm • 2016 • website See all 4	-	7	6
PHI Industrial Madrid, Spain Private Equity Firm • 2006 • website See all 5	-	14	10
Accursia Capital Munchen, Germany Private Equity Firm • 2017 • website See all 2	-	9	7
MKB Fonds Amsterdam, Netherlands Private Equity Firm • 2011 • website See all 4	62	19	17
M80 Partners Brussels, Belgium Private Equity Firm • 2018 • website See all 6	-	11	8
Credem Private Equity SGR Milan, Italy Private Equity Firm • 1999 • website See all 2	-	7	3
Armònia SGR Rome, Italy Private Equity Firm • 2016 • website See all 6	-	8	7
5square Laren, Netherlands Private Equity Firm • 2004 • website See all 4	-	15	9
Novum Capital Frankfurt, Germany Private Equity Firm • 2006 • website See all 5	338	9	3
Gradiente SGR S.p.A. Padova, Italy Private Equity Firm • 2009 • website See all 4	108	8	4
Standard Investment Management B.V. Amsterdam, Netherlands Private Equity Firm • 2004 • website See all 7	101	15	12

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