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Founded in 2022 by Jorge Larrea Urquiola and Zorion Ugalde Zarraga, Basque venture capital firm Lemnos Capital acquired 100% ownership of Gipuzkoa-based company Cartonajes Limousin in January. The deal was supported by various investors, including Atiud Capital, Itaca Capital Partners, 9T Capital and Beka Finance.
Located in Tolosa, where it was founded over 100 years ago, Cartonajes Limousin specializes in designing and manufacturing corrugated cardboard packaging. Over the last 4 years, the company has experienced a 40% increase in sales, reaching €11M in 2022, with the majority of its activity concentrated in Euskadi. The company employs a workforce of 45 individuals.
Committing to sustainability, the new CEOs have initiated a plan to enhance the company, focusing on consolidating its presence in the region and expanding its product offerings. Additionally, they aim for sustained growth and the opening of new markets in neighboring areas.
Legal: Barrilero Legal Angels / DD: PKF Attest / Vendor: Consultores Sayma
