Kartesia and Cornerstone Investment Management buy Ecowipes Group

• Kartesia provided debt facilities to support the acquisition
• Kartesia is a pan-European firm financing small and middle-market companies
• Cornerstone is a private equity investor based in Warsaw, Poland

Kartesia and Cornerstone Investment Management have jointly acquired Ecowipes Group, a vertically integrated producer of biodegradable wet wipes and other personal hygiene products.

No financial details of the transaction were disclosed.

Ecowipes Group is based in Warsaw, Poland. The group consists of Ecowipes Sp based in Nowy Dwór Mazowiecki, Poland, and Hydra based in Moosch, France.

Kartesia also provided debt facilities to support the acquisition.

Cornerstone and Kartesia plan to pursue organic and external growth opportunities and accelerate the international development of Ecowipes, according to a release.

“Traditional personal and baby wipes are among the most polluting hygiene products, but customers are demanding more sustainable options,” said Tomas Neuhaus, director at Kartesia. “Ecowipes is leading the industry with a product range which is plastic-free and fully biodegradable.”

Kartesia, headquartered in London, is a pan-European firm financing small and middle-market companies. It has offices in Brussels, Frankfurt, London, Luxembourg, Madrid, Munich, and Paris.

Cornerstone Investment Management is a private equity investor based in Warsaw, Poland.