Cornerstone acquires manufacturer of biodegradable wet wipes

Alina Oprea

19 July, 2023 at 6:00 PM

Cornerstone Investment Management, a CEE-based private equity investment management firm, acquired Ecowipes, a European manufacturer of biodegradable wet wipes, in cooperation with Kartesia, a European specialist financing provider. This acquisition is highly significant to the ESG strategy followed by both investors. Ecowipes is second in a row - after a joint acquisition of Okechamp/Lutece last year - an ESG transaction executed by both PE houses.

Ecowipes has been one of the top European producers of innovative and fully biodegradable nonwoven products since 2011.

The company's product portfolio comprises wipes, cosmetic pads, and cotton buds which are produced in a modern factory in Nowy Dwór Mazowiecki with a technologically advanced machinery park.

Ecowipes also cooperates with the largest retail chains in Europe, producing their private labels.

“It has been an immense privilege to advise and guide our client on this transaction. ESG issues are of key importance to Linklaters, and we are proud when we cooperate with sustainable and environmentally conscious businesses. This acquisition is a testament to the fact that businesses with a strong ESG focus can not only thrive but also drive significant positive impact on the world” said Marcin Schulz, partner in Linklaters Warsaw corporate practice.

The transaction was led by Marcin Schulz (partner), Klaudia Śliwka (managing associate), Michał Szperzyński (managing associate), and Natalia Burchardt-Mroczkowska (senior associate) from the Warsaw corporate practice.

Architect Matius Ichim: "Lack of education in terms of ESG is the challenge"

Lack of education in terms of ESG (environmental, social, and governance) and a poor number of good practice solutions are two of the challenges in the field, says Matius Ichim, Architect at Matius Studio and owner of the retail platform www.prioretail.ro. He talked to Green Forum about the advantages of a sustainably built commercial space. He says that 15-20% of the operating networks in Romania have started implementing ESG key principles in their fit-out design and close to 5% in full sustainable standards.

Industry

Ariston Group presents ESG strategic plan for 2030

The Ariston Group, which operates in the field of sustainable thermal comfort, has presented its vision and ESG objectives for 2030 within the "Road to 100", a strategic plan that attests to the group's commitment to sustainability.

Environment

Lidl Romania invests over €2.92 million to combat plastic pollution

To support the fight against and prevention of plastic pollution, Lidl Romania has invested over RON14.6 million (€2.92 million) in programs developed together with civil society.

Industry

Coca-Cola HBC Romania: "We are taking firm steps to reach net-zero emissions"

Coca-Cola HBC Romania is the first local company, in the FMCG industry to produce a sustainability report to international standards and among the first local companies to publicly present such a report, says Alice Nichita, Corporate Affairs & Sustainability Director at Coca-Cola HBC Romania. She talked to Green Forum about the company's ESG strategy and the company's current sustainability targets and the social initiatives that the company and its employees are involved in.

Mobility

Wizz Air named most sustainable low-cost airline

Wizz Air was named the most sustainable low-cost airline for the third consecutive year at the World Finance Sustainability Awards 2023. The company states that World Finance magazine appreciated Wizz Air's sustainability credentials and its commitment to reducing emissions by another 25% by the end of the decade.

Industry

Kaufland Romania invests €9 million in projects for the community

Last year, Kaufland Romania was involved in the development and implementation of social responsibility projects worth €9 million, including two financing programs through which Kaufland offers non-refundable grants to non-governmental organizations. The company states that it is among the biggest supporters of NGOs that fight for causes such as health, environmental protection, education, healthy living, and sports or culture.

Business

BRD grants sustainable financing of €220 million in 2022

BRD – Groupe Société Générale granted sustainable financing of RON1.1 billion (€220 million) last year. BRD launched 2022 its first green lending products for individuals. Also, the BRD Group reduced its energy consumption by 12.5% compared to the previous year and the greenhouse gas emissions resulting from operations.

LATEST NEWS

7 May

Rezolv Energy launches Bulgaria's St. George solar park

7 May

Sinovoltaics launches web tool for solar project testing

27 Apr

Data and energy performance are redefining real estate value

24 Apr

ProCredit Bank Romania launches CO2 calculator for SMEs

17 Apr

Polish office market grapples with increasing fit-out costs

CONFERENCES

CEE PROPERTY FORUM & AWARDS GALA 2024 - VIENNA, AUSTRIA

POLAND ESG FORUM 2024

Romania ESG Forum 2024

RECOMMENDED FROM THE HOME PAGE

Real estate

Data and energy performance are redefining real estate value

In a video interview recorded at Bratislava Property Forum 2026, Hubert Abt FRICS, CEO of workcloud24, explains why energy performance is emerging as the most important operational metric, how investors are approaching sustainability and what it takes to create real value through data-driven asset management.

Energy

Rezolv Energy launches Bulgaria's St. George solar park

Rezolv Energy has commissioned the St. George solar park in Silistra, Bulgaria, marking the company's first project to become operational. The 225 MW facility reached full operational status in under three years from acquisition of development rights.

Finance

ProCredit Bank Romania launches CO2 calculator for SMEs

ProCredit Bank Romania has launched a CO2 Emissions Calculator to help microenterprises and small and medium-sized enterprises quantify and understand their carbon footprint. This initiative reflects the Procredit Group's commitment to achieve net-zero emissions by 2050, with client engagement at the core of its Climate Action Strategy.

Energy

Sinovoltaics launches web tool for solar project testing

Sinovoltaics has launched PV Lab Test Advisor v1.0, a web-based assessment tool designed to build project-specific reliability testing scopes for utility-scale solar PV projects.

Real estate

Sustainability moves from ambition to action

Conducted in autumn 2025, the RICS Sustainable Real Estate Survey Europe gathered 112 responses from valuers, developers, investors and other professionals across 30 countries. The findings confirm that ESG has moved from a peripheral concern to a core driver of real estate value, risk and decision-making across Europe.

POPULAR

Industry

5 months ago

Lidl Romania exceeds 2030 sustainability targets early