Deloitte, providing Debt & Capital Advisory services, acted as Financial Advisor to Matrix Pack and contributed to the successful conclusion of the company’s loan agreement with the European Investment Bank (EIB). The cooperation serves the strategic goal of Deloitte to empower Greek companies in their efforts to achieve sustainable development and to secure the financing of strategic initiatives in the fields of sustainable infrastructure and environmentally friendly solutions.
The purpose of the special mezzanine financing, amounting to 8.5 million euros and lasting five years, is to strengthen the investment of Matrix Pack for the transition to paper, biodegradable and environmentally friendly materials that will accelerate the reduction of the use of plastic for millions of consumers.
Matrix Pack is one of the largest companies in Europe active in the production of beverage straws and other disposable items for catering, operating three state-of-the-art production units in Europe and having a strong sales network extending to 52 countries worldwide.
As part of its role as Matrix Pack Financial Advisor, Deloitte provided sustainability financing consulting services to develop a sustainable financial model and support the company in concluding a loan agreement with EIB. The loan will provide the necessary financing for the company’s investment program for the replacement of the plastic straw production units and the implementation of new investments for the production of paper straws. The investments will allow the company to further expand its production capacity and activities in Europe and North America.
It is worth noting that Matrix Pack is the first company in Greece that achieves its financing through the institution of Venture Debt of EIB.
Commenting on this development, the CEO of Deloitte Greece Mr. Dimitris Koutsopoulos noted: “We are particularly pleased that we were able to contribute with our services to such an important partnership that ensures the development future of an innovative, dynamic and pioneering company. The Matrix Pack’s partnership with the European Investment Bank is a crucial agreement to strengthen the green economy, and Deloitte’s focus on promoting sustainable development is well known. “We manage to pave the way for it for our customers and on the other hand because through the success and progress of our customers like the Matrix Pack, we all contribute together to create a sustainable future.”
Source: Capital
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