Headquartered in France, the new combined entity will have approximately €65m (£56.4m) in consolidated revenue and 280 employees throughout six manufacturing sites in Europe and the US.

MDV is a niche manufacturer and coater of specialty papers and films for the print, packaging, medical, sign, display, and building industries, with two coating facilities in Germany and a HDPE blown film manufacturing site in the UK.

The firm counts the likes of Fluolux, Robuskin and Satinex among its portfolio of brands.

Arnaud Roussel, chief executive of Arjobex, comments: “MDV perfectly fits the Arjobex core business of producing sustainable specialty substrates for niche and growing markets and will benefit from our strong international sales and marketing network in the US and Asia.”

Ashok Krishna, the main shareholder of MDV, adds: “With Arjobex, we have found the ideal investor to make MDV group even more successful and international.”

Prudentia Capital, a French private equity firm and unique shareholder in Arjobex, assisted with the deal, the financial details of which were not disclosed.

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