November 2, 2015
DECA Investments AIFM (“DECA”), the exclusive investment manager of Diorama Investments Sicar, S.A. (“Diorama”), announced the completion of the Fund’s first investment: the acquisition of a strategic minority position in Atlas Tapes S.A. (“Atlas”) for a consideration of c. seven million Euros (€7 million).
Atlas Tapes is a growing Greek company involved in the production and trading of adhesive tapes and other packaging material. It is one of the largest and most profitable European companies in the sector with 2014 Revenues of €65 million, 85% of which representing export sales. In 2014 it increased its employee base to 330 up from 250 in 2013. The investment will enable Atlas to further expand and automate its production, reduce its cost base, mainly by becoming more energy efficient, and thus further enhance its competitive position internationally. In 2015 Atlas realizes revenue growth exceeding 10%.
The investment in Atlas fits Diorama Fund’s strategy: making equity investments in growing, extrovert Greek companies who have the ability to generate attractive returns to their shareholders. Diorama’s objective, in addition to the realization of attractive return on its investments, is to contribute to Greece’s critical goal: realizing economic growth and reducing unemployment by increasing the competitiveness of its businesses. DECA has already completed a mapping of the Greek small and medium enterprise universe and is in advanced discussions regarding other possible investments.
Jason Lantzis, Atlas’ Managing Director stated: “Diorama Investments Sicar, S.A. strategic investment in our company not only strengthens our financial position and augments our capabilities, but also provides us with increased international reach. It, thus, facilitates the realization of our strategic goal which is to turn Atlas Tapes into the leading European adhesive tapes company.”
Nicos J. Koulis, DECA Investments’ AIFM CEO stated: “Diorama Fund makes its first investment in a growing, extrovert Greek company at a challenging time when access to capital even for strong companies is limited. It is our belief that the end of this long recession will be accelerated by the active support to growing, extrovert companies that can compete successfully in the international arena. We are confident that this investment will not only help Atlas achieve its ambitious goals but will also generate significant economic value for our investors.”
Diorama Investments Sicar, S.A. is a growth fund established in Luxembourg in September 2014. Its goal is to make equity investments, usually through a capital increase, to Greek small and medium enterprises. The Fund’s investors are distinguished Greek businesspeople and institutional investors. The Fund is managed by DECA Investments AIFM, which is licensed by and reports to the Hellenic Capital Markets Commission.