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Manufacturer of backsheets for hygiene and sanitary products

Type of Operation



Portobello Fund IV

Investment date

December 2020


Manufacturer of backsheets for hygiene and sanitary products

Poligof is one of the leading manufacturers of backsheet films in Europe, a semi-finished product primarily used for adult incontinence products and baby diapers.

Founded in 1979, Poligof is headquartered in Lodi (Italy) and has a strong international presence. The Company operates four facilities across Italy, India and Russia and has nearly 420 employees. Poligof serves a loyal customer base of blue-chip clients thanks to an attractive value proposition based on an extensive and customized product portfolio coupled with a strong customer service (e.g., quality standards and lead times)

Why did we invest in Poligof?

  • Leading producer of backsheet films in Europe, a niche sector characterised by stable competitive dynamics
  • Positive tailwind thanks to secular growth of adult incontinence segment
  • Resilient business (unaffected by macro) and strong cash generation
  • Well positioned to increase market share in current markets and penetrate new geographies
  • Possibility to capture additional opportunities within the hygiene and sanitary markets
  • Best-in-class and experienced management team, strongly committed to the project