Suma Capital, Best ESG Initiative for the second consecutive year
For the second consecutive year, Suma Capital has been awarded the Spanish Private Equity Association (ASCRI), IESE and Deloitte, Best ESG Initiative prize for its growth investment strategy, in particular for its portfolio investment Alucan.
Alucan is a Spanish manufacturer of aluminum bottles for the food, pharmaceutical and cosmetics industries, with revenues of 37M€ in 2019, 90% of which internationally.
Since its investment in 2016, Suma Capital promoted sustainable investments and initiatives focused on manufacturing processes, supply chain and materials, packaging and transportation. This has resulted in 11,100 CO2 Ton emissions reduction, the equivalent to the CO2 emissions of 6,900 vehicles and the absorption of CO2 by 780 hectares of pine trees.
Alucan’s commitment to sustainability has been recognized by the market. Its clients, primarily European multinationals, prefer to work with suppliers that demonstrate continuous improvement plans, aligned with the Sustainable Development Goals (SDGs), and particularly with SDG’s related to the fight against climate change and global warming.
This strategy has helped Alucan accelerate its double-digit annual growth rates in past years. The Company’s expansion requires additional production capacity, thus the alliance signed in 2019 with a European food company to build a totally new aluminum packaging plant in Belgium.
The most sustainable plant in Europe, it will incorporate additional improvements in the manufacturing processes that should reduce the CO2 footprint to an additional -31%.
The ESG award is a new recognition to Suma Capital’s responsible investment strategy across its portfolio investments. For the second consecutive year, the firm is recognized at the top of the close to one hundred GPs members of ASCRI.
Suma Capital, with assets under management (AUM) of € 350m+ across four private equity funds, is a Spanish fund manager. Since its incorporation in 2007, Suma is known for its focus on the Spanish lower mid-market as well as its systematic ESG strategy.
This positioning and robust approach to sustainable investing has resulted in various recognitions, including the A+ certification by the Principles for Responsible Investment (PRI) of the United Nations, as well as the ASCRI, IESE and Deloitte ESG Annual Award that it receives for the second consecutive year.