Solidus Solutions was not part of the core business of the exchange-listed Smurfit-Kappa Group. This caused numerous operating challenges, including under-developed profitability.

The first step taken by the AURELIUS Task Force in the course of the carve-out process was to establish stand-alone structures. Other key steps that helped grow the business of Solidus Solutions were the integration of three add-on acquisitions and geographical expansion. As a result of these measures, the company’s EBITDA increased from around EUR 8m at the time when it was acquired by AURELIUS to more than EUR 50m when it was sold for an enterprise value of EUR 330m.