Paperlinx has managed to offload another of its European operations without any drama, selling the Polish business to a private equity-backed management team.

The management buyout supported by Warsaw Equity Management is the first lock-stock-and-barrel sale of a whole functioning Paperlinx country operation after collapses in UK, Benelux, and Austria.

“After an intensive sale process, we are pleased to announce the successful sale of this business to the management and their financial sponsors,” chief executive Andy Preece says.

“We wish the Polish management team and their employees all the best in the future.”

[Related: The ups and downs of Paperlinx]

Proceeds from the undisclosed sale price will be used to help pay off various Paperlinx European creditors and will not be retained by the group.

The Paperlinx share price is stable at 3.1c.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter