Verod Capital Management has completed a full exit of its ownership of Rotoprint, a flexible packaging company based in Nigeria.

“The exit was to a family office,” Alexandra Ekpiken, VP & General Counsel at Verod Capital Management, told Africa Global Funds.

Rotoprint was the last company held in Verod’s pioneer portfolio.

With this exit, the portfolio of eight investments has delivered a gross dollar MOIC (multiple on invested capital) of 4.0x and IRR of 50.8% to its investors.

Rotoprint is a vertically integrated supplier of flexible packaging products to top-tier consumer product companies across West Africa.

Rotoprint’s products include plain and printed Polyvinyl Chloride (PVC) products, adhesive tapes, High-density polyethylene (HDPE) and Low-density polyethylene (LDPE) products.

In 2011, Verod acquired a 75% stake in Rotoprint from its founders and in 2012 Verod acquired the remaining 25% stake.

With the support of a skilled and experienced management team, Verod worked with Rotoprint to dramatically increase the company’s production capacity, and increase revenues and profitability, cementing the company’s position as a leading player in the flexible packaging space.