Arjobex Synthetic Papers acquired German group MDV at the beginning of the year.

The firm makes synthetic papers used for label facestock, tags, maps, packaging, advertising and signage. Its brands include the now eponymous Polyart, as well as Robuskin, Fluolux, Satinex and Fiberskin.

The firm said that rebranding as Polyart would “further support its global brand”.

Sales at the firm grew by 20% this year, and surpassed €70m (£59.8m), with Europe accounting for the lion’s share of sales at 70%, and the USA (20%) and Asia (10%) making up the balance.

CEO Stéphane Daveau said the merger with MDV had resulted in “significant operational and industrial synergies”.

“In 2022, we aim to develop significant commercial synergies by leveraging the group’s global sales network. Polyart is now a cohesive group, solidly equipped to establish itself in growing markets,” he said.

Plans for next year include the opening of an Indian subsidiary, and growth plans for its US business. Polyart hinted at further M&A activity and said shareholders Prudentia Capital and Indigo Capital were supportive of its ambitions to “continue consolidating the sector”.

Polyart has six production sites with two located in the UK: Arjobex in Clacton-on-Sea and Tech Folien in Liverpool.

The group has some 300 employees worldwide.

It recently appointed Mark Grimbley to the newly-created role of corporate social responsibility manager, reporting to Daveau, with the aim of taking its sustainability credentials “to the next level”.