Ploeger Oxbo strengthens shareholder base through investment NPM Capital

NPM Capital

Ploeger Oxbo Group has attracted a new major shareholder. NPM Capital is the strong financial partner that the manufacturer of specialty agricultural equipment has been looking for to support its long-term growth strategy. This strategy is aimed at bolstering innovation and product development to further strengthen Ploeger Oxbo’s leading position in its worldwide niche markets. The transaction file has also been submitted to the required Competition Authorities.

Ploeger Oxbo’s roots go back to the 1950’s. The group was formed in 2011 in a merger between Netherlands-based Ploeger and US-based Oxbo. Over the past decades, the companies have expanded rapidly as a result of autonomous growth and acquisitions. From a strong position in harvesters for corn, beans and peas the product range has been expanded to equipment for crops like potatoes, berries, coffee, olives and grapes and to self-propelled windrow mergers, sprayers and fertilizer applicators. Ploeger Oxbo has a leading position in these niche markets and operates in forty countries on all continents. Over the past months both Ploeger Oxbo and NPM Capital have developed a shared vision on the strategic direction of the company.

“This company has a strong entrepreneurial spirit”, say Gary Stich and Niels Havermans, both Board members at Ploeger Oxbo. “The fact that the founders of the group in 2011, both private as well as three Dutch investment companies (Synergia Capital Partners, VDL Participatie and via Bolster Investment Partners), will participate in the future shows a great level of confidence in the markets we are in as well as the strategic direction of the company. Together we have decided to sell 40 percent of our holdings to a powerful financial partner who shares our values and focus on long-term development and can support add-on acquisitions.”

The participation in Ploeger Oxbo Group fits NPM Capital’s focus on the agri-tech sector, says Rutger Ruigrok, managing partner of the investment company. “Ploeger Oxbo creates innovative solutions for the agricultural sector that needs new technologies to be able to feed a fast-growing world population. It is a company with both great social value and strong growth potential – exactly what we are looking for.”

Ploeger Oxbo was advised by Nielen Schuman (financial) and DLA Piper (legal). NPM Capital was advised by Rabobank and Vondel Finance (financial) and Nauta Dutilh (legal).

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Priveq – a new growth partner for Lamiflex

Priveq

Lamiflex, a world leading supplier of transport packaging solutions mainly to the steel, aluminum and cable industries, is bringing in Priveq Investment (“Priveq”) as growth partner for the future. CEO and management as well as the former majority owners will continue to be a part of the owner group.

Lamiflex was founded in 1992 and started with the product ”Lamiflex”, protecting steel pipes and bars during transportation. The portfolio has today grown to offer complete solutions to a number of industries, i.e. oil and gas as well as the automobile industry. The company works in seven countries with headquarters in Nyköping in the south of Sweden with 63 employees in total.

During the last 30 years, the world steel production, excluding China, has been on a relatively even level even during economic decline and at times with volatile steel prices. Since a few years back, a structural shift has occurred in the market for transport packaging in the steel and aluminum industry – mainly steel protection and non-automatic processes have been replaced by plastic protection and automatisation, which is expected to drive Lamiflex’s addressable market mainly in Europe and South Korea. Through the partnership with Priveq, good conditions are created for continued growth and development of the company.

”We are impressed by the way Lamiflex has managed to establish itself as a niche actor with a strong offer and a unique position in the market. We look forward to work together with Lamiflex and actively support the company ahead.”, says Johan Koch, Partner at Priveq.

”We are very pleased to have Priveq as a growth partner in Lamiflex. Priveq has a broad experience from over 100 growth companies and we are convinced that Priveq will help us in taking the next step in our development.”, says Adrian Robert, CEO of Lamiflex.

”As Chairman of the Board and co-owner, I am leaving the baton to Priveq with warm hands. Together with the other former main owners, I will continue to invest and follow Lamiflex in to the next phase of growth and we are convinced that Priveq is a great partner to do this with.” says Wiking Henricsson, resigning Chairman of the Board in Lamiflex.

For more information, please contact:

Johan Koch, Partner and Investment Manager, Priveq Investment
Tel: +46 (0)70 813 04 18
johan.koch@priveq.se

Adrian Robert, CEO Lamiflex
Tel: +46 (0)72 858 99 81
adrian.robert@lamiflex.se

About Lamiflex
The Lamiflex Group is a world leading supplier of transport packaging solutions mainly in the steel, aluminum and cable industries as well as within oil and gas. The portfolio consists of material, machinery, services and methods for optimal packaging solutions. The Lamiflex Group is headquartered in Nyköping in the south of Sweden and with subsidiaries all over the world.

More information is available at www.lamiflex.se.

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Anders Invest acquires De Waal Staal

Anders Invest

June 20, 2018 | Anders Invest

On June 15th, Anders Invest has finalized its 12th acquistion by the takeover of 95% of the shares of De Waal Staal from Deurne (NL). The shares have been bought from the son in law of the founder of the company. The remaining shares are taken over by the new director Sieger Volkers, the former CEO of M&G, worldmarketleader in gasflue pipes for heating systems and a manufacturer of ventilation products.  

De Waal Staal (website) is marketleader in the Netherlands and top 3 player in Europe in the field of mounting systems and flanges for metal airducts. The customers are mainly airductmanufacturers and installers for larger buildings. De Waal Staal is able to produce large part of the products on their own machinery in their production facility in Deurne (NL). They produce millions of meters every year. The company has a long and stable history, and is know by their quality and customer focus, this has resulted in a very stable and growing client base in the last 45 years. 

Due to increasing attention for airtightness, healthy indoor climates and fire protection in buildings the company sees many opportunities to increase their international position.

 

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Ardian partners with Wise to accelerate the development of Corob, a global leader in automation solutions for dosing and dispensing

Ardian

Paris, July 9th 2018. Ardian, a world-leading private investment house, today announces the signing of an agreement with Wise SGR to acquire a majority stake in Corob SpA, a global leader in the supply of automation solutions for dosing and dispensing in the chemical, paint, coatings and ink industries. Ardian will invest alongside Wise SGR and Corob’s senior management team to consolidate the repositioning of the company globally, maintain its technology leadership and accelerate Corob’s growth, both organically and through acquisitions.

Headquartered in San Felice sul Panaro (Modena, Italy), Corob supplies a wide range of high tech automation solutions used in the production and distribution of paints and coatings, inks and chemical substances worldwide, in addition to the related after-sales services. The current senior management team at Corob, led by President and CEO Fernando Bertoni, brings a wealth of strong global experience, and will continue to lead the company.

Corob was founded in 1984, introducing to the market the first automatic color dispensing system. In 2016 Wise SGR acquired 100% of the capital, and two acquisitions, in Canada and Southern Europe, have expanded the business by strengthening its industrial plants and after-sales service segments.

With more than 700 employees, 10% of which are employed in R&D, and a turnover of over €100 million, in addition to four  production and engineering centers in Italy, India, Canada and Finland and 14 commercial and services centers, Corob is the only player in the market able to combine a wide range of automation solutions with an excellent and widespread after-market service organization worldwide. 6% of the turnover is generated in Italy, 37% in the rest of Europe, Middle East and Africa, and the remaining 57% in America and Asia.

Ardian will work together with the management team in the growth strategy, both organic and through acquisitions, leveraging its international network. Well known for its strong presence in the point of sale market segment, the Company, supported by Ardian and Wise SGR, will accelerate its growth by investing in a further expansion of the industrial plants and the after-market services segments.

Fernando Bertoni, President and CEO of Corob, commented: “We are privileged at Corob to have the support and guidance of two of the best global investors in the world. The arrival of Ardian will allow us to accelerate the implementation of our international strategic business plan through additional investments in technology, people and execution capabilities. The partnership of Ardian and Wise and the involvement of the senior management in Corob’s capital is very important for our customers, employees and other key stakeholders, and materially strengthens the present and future of our superb franchise.”
Paolo Bergonzini, Managing Director and Head of Ardian Expansion in Italy, added: ”Corob is an excellent Italian company that already benefits from a strong worldwide appreciation for its highly specialized products. We will provide Corob with our experience and expertise and, together with the company and Wise, we will be able to bring out the full potential of this important Italian industrial company.”

Valentina Franceschini, Partner at Wise SGR, concluded: “We are very proud of how the company has grown in the last two years, both organically and through two acquisitions in 2017, and how we have contributed to the evolution of the group’s growth strategy through a new corporate leadership and, more generally, the strengthening of the management team. We have also laid a solid basis on which Corob can continue to rapidly grow, to serve customers with distinctive and individual solutions. Ardian’s entry is a great opportunity for Corob to further invest in its growth.”

ABOUT COROB

Headquartered in San Felice sul Panaro (Modena, Italy), Corob S.p.A. has been a world leader in the supply of high technology automation solutions for dosing and dispensing for 35 years. The Group supplies applications in the paint and coatings, inks and chemical industries, as well as providing the related after-sales services on a global scale, thanks to a capillary organization dedicated to management and maintenance.
Founded in 1984, Corob now has around 700 employees, 4 production and engineering centers, 14 commercial and after-sales service centers around the world. In 2017 turnover exceeded 100 million euro, of which only 6% was generated in Italy.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT WISE SGR

Wise SGR specializes in the management of Private Equity closed-end funds, investing in small and medium-sized companies, with a special focus on Italy. The funds managed by Wise are typically involved in Leverage Buy-Out and capital increase transactions, dedicated to companies that are leaders in their niche markets. The two major objectives are to lead “build-up” transactions, in order to enhance competitiveness and profitability, and to push the international development.
Wise, controlled by the management team, has currently two funds under management: Wisequity III, with commitment exceeding 180 M€, has three remaining companies in the portfolio: Colcom Group, NTC Controls, having already realized the investments held in Edos Media, Kijan, Primat, Biolchim and Alpitour. Wisequity IV closed the fund raising in March 2016 reaching its hard cap at 215 M€ and already invested the 50% of its own capital in five companies: Corob, Imprima, Tapì, Tatuus Racing and Aleph.

INVOLVED PARTIES

ARDIAN
Advisor to the Fund: Ardian Italy S.r.l. (Paolo Bergonzini, Marco Molteni, Michela Peigottu, Luca Sigismondi, Elisabetta Bozzoni)
M&A buyside advisors: Vitale&co (Riccardo Martinelli, Mariacristina Moro, Azzurra Bisogno)
Accounting: KPMG (Matteo Contini, Lorenzo Brusa, Riccardo Lettieri)
Business: Goetzpartners (Giovanni Calia, Filippo Cerrone)
Legal / Corporate: Gattai, Minoli, Agostinelli, Partners Studio Legale (Stefano Catenacci, Lorenzo Fabbrini)
Legal / Finance: Gattai, Minoli, Agostinelli, Partners Studio Legale (Gaetano Carrello)
Tax: Gitti and Partners (Diego De Francesco, Alberto Pallicelli), KPMG (Stefano Cervo)
Environment: Tauw (Milena Brambilla)
Banks: Unicredit (Giovanni Vasini, Lorenzo Longo)Wise SGR
Advisor to the Fund: Wise SGR S.p.A. (Valentina Franceschini, Davide Arrigoni)
Accounting: EY (Marco Ginnasi, Andrea Di Bella)
Business: Long Term Partners (Marco Occhetta, Simona Dossena, Lorenzo Colombo)
Legal: BonelliErede (Eliana Catalano, Augusto Praloran, Giorgia Ferretti)
Tax: Studio Spada (Guido Sazbon, Bernando Porcellini)

PRESS CONTACTS

ARDIAN
Headland
Harriet Smith
Tel: +44 20 3435 7466
hsmith@headlandconsultancy.com
WISE SGR
Close to Media – società fondata da Elisabetta Neuhoff
Luca Manzato – luca.manzato@closetomedia.it – 02 70006237 – 335 8484706
Adriana Liguori – adriana.liguori@closetomedia.it – 02 70006237 – 345 1778974
Lucrezia Martinoli – lucrezia.martinoli@closetomedia.it – 02 70006237

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Participation in Aldowa

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Anders Invest

June 28, 2018 Anders Invest

Anders Invest has acquired a 65% stake in Aldowa in Rotterdam. With this company, known for its modern, self-managing organization from the book “Semco in de polder”, Anders Invest expands its portfolio to 13 companies.  

Aldowa, with more than 55 employees, is a top player in the Netherlands in the field of the engineering, production and assembly of metal and composite facade cladding. The company has collaborated on high-profile objects such as the Markthal and Central Station in Rotterdam, the Houthavens in Amsterdam, Hilton at Schiphol and the Mercedes-Benz flagship store in The Hague. All major Dutch contractors and project developers are Aldowa’s customers. Increasingly, the company inspires architects with ingenious and innovative façade cladding so that Aldowa is more and more involved in the design phase of projects. Aldowa has a complete machine park in Rotterdam to produce every desired shape and colour. With its subsidiary Aldowa Composites, the company also produces façade cladding of composite material.  

The shares were bought from Jan Boom and Allard Droste, owners of Aldowa since 2007. Droste will remain as minority shareholder. Current shareholder Alwin Versluis expands his interest and will continue to run the Aldowa management together with Jan Boom. 

The company has been growing hard for years, even during the construction crisis, partly because it is capable of realizing increasingly complex and finer facades in an efficient manner. Due to the increasing demands on circular construction and energy consumption, the 40-year-old company sees sufficient opportunities for further growth. Aldowa is characterized by a strong self-managing organization with a lot of responsibility for the employees. Anders Invest wants to apply a number of these ‘best practices’ to its other portfolio companies.

 

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3i announces sale of Etanco generating proceeds of c. €102m

3I

3i Group plc (“3i”), and funds managed by 3i, today announce that they have entered into a sale and purchase agreement to sell their investment in Etanco, the leading designer, manufacturer and distributor of building fasteners and fixing systems in France, Italy and Eastern Europe, to its CEO Ronan Lebraut and management team supported by Intermediate Capital Group (“ICG”). Proceeds to 3i will be c. €102m, which represents a c. 36% uplift on its 31 March 2018 valuation of £66m / €75m.

Headquartered near Paris with 800 employees, the company has distribution entities in Belgium, Italy and Eastern Europe and exports to more than 20 countries through its Italian subsidiary, Friulsider. Etanco provides a broad range of 80,000 products which meet all the fastening needs of the “building envelope”, including waterproofing, roofing, cladding, facades and safety lines.

3i invested in Etanco in 2011, alongside Ronan Lebraut and Five Arrows Principal Investment. Since then, the company has grown organically and through acquisitions. Etanco successfully delivered a sales force effectiveness optimisation programme and refocused its export approach, resulting in a 20% annual growth of exports while further cementing its leading positions in the French and Italian markets. During 3i’s investment period, the company also pursued a buy-and-build strategy notably with the acquisitions of leading fastening players in Poland and Romania to establish a solid presence in this region.

Rémi Carnimolla, Partner & Managing Director, 3i France, commented:

“During our investment period, Etanco has strengthened its presence in France and in Italy and restructured its sales force organisation to gain market share against a challenging market backdrop. We have helped the company expand internationally, notably into Eastern Europe, thereby successfully diversifying its presence. Etanco is well prepared to benefit from the very positive market trends in the coming years and we wish them well in the future”.

Ronan Lebraut, CEO of Etanco, added:

“With 3i’s active support, Etanco has grown significantly organically and through acquisitions, in France and Italy but also in Eastern Europe. We have structured our organisation and procedures to be the prime beneficiaries of the positive market trends ahead of us. We look forward to working with ICG on the next stage of our company’s development.”

Hadj Djemai, Head of Southern Europe, Equity & Mezzanine, of ICG commented:

“ICG is thrilled to support Ronan Lebraut, the grandson of the founder, and the management team in the acquisition of Etanco from 3i. We are convinced of the strengths of Etanco and its management, and will actively support the Group’s growth strategy to take advantage of the favourable market conditions and reinforce its leadership in Europe.”

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Eurazeo PME is to become the new majority shareholder of ST GROUP

Eurazeo

Eurazeo PME is to become the new majority shareholder of STGROUP renamed VITAPROTECH, replacing UIGestion, and has announced it has signed a share purchase agreement under which it will invest €40 million in the company to hold approximately 60% of the sharecapital. This investment will be conducted alongside the managers, Eric Thord and Emmanuel Chopin, and other senior managers. The joint project between Eurazeo PME and senior executives relies on accelerating the group’s international growth, mainly through an ambitious external growth strategy. This transaction is scheduled to close in July 2018.

With a turnover of €29 million in 2017, VITAPROTECH has notably arisen as a result of the merger in 2014 of SORHEA and TILTechnologies led by Eric Thord. Founded in 1987 in the Lyon region, SORHEA is a pioneer in the detection of physical intrusions nearby sensitive areas In France thanks to its high performance infrared barriers, and holds 25% of the French market. Founded in 1988 in Aix-en-Provence, TILTechnologies is also the leader in its segment in France with 20% of the market, thanks to its supervising software for access control systems of critical sites. Investing about 10% of their turnover in R&D, both brands design high-end solutions they market through a network of integrators, for operators of vital importance in France or their equivalent in other countries(power generation facilities, utilities, prisons, logistics infrastructure, public safety/defense sites, bank and insurance headquarters, etc.).The group began its internationalization a few years ago through three build-up operations (United States, Canada, Belgium) and carries out 22% of its activity abroad. VITAPROTECH employs approximately 160 people spread over five sites, including two in France.

Supported by its new shareholders, VITAPROTECH aims at becoming a global reference in sensitive areas security. This project relies on three axis: the ramp-up of technologic al investments and the associated development of new products and services, the acceleration of the European and American expansion, and the implementation of external growth operations. Through it soffices(USA, Brazil, China) or partnerships (Germany), and its operational support expertise(governance, digital, CSR, integration of build-ups, etc.), Eurazeo PME will leverage on its worldwide network to support the group excellence strategy.

Joanne Dubail, Principal of Eurazeo PME:“We are delighted with this operation, which embodies the ambitious development project designed with Eric Thord and his team. We particularly appreciate the strong positioning of VITAPROTECH, relying on its many managerial and technological talents. We are committedtotransformingthisnationalchampionintoanintegratedandglobalmidcapcompany,andchannelallourexpertisetonurtureitsfuturegrowth.Acquisitionswilldefinitelybeanimportantlever.”2

 

ELISABETH AUCLAIR

Mail : eauclair@eurazeo-pme.com

Tél. : +33 (0)1 53 83 81 72

MAEL EVI N

Email: mael.evin@havas.com

Tel: +33 (0)6 44 12 14 91

EURAZEO PME CONTACT

PRESS CONTACT – HAVAS WORLDWIDE PARIS

Eric Thord, President of VITAPROTECH: “This is another major step towards developping our group. We started alongside UI Gestion, Bpifrance and Carvest to accelerate the transformation of ST GROUP. Alongside Eurazeo PME, my ambition for the group (renamed VITAPROTECH for the occasion) is to move up to a new dimension, firstly by capitalising on the synergies between SORHEA and TIL Technologies businesses, around a unique value proposal for securing sensitive sites, and secondly by structuring an ambitious approach to building international leadership.”

Olivier Jarrousse, Managing Partner of UI Gestion: “Participating in the majority takeover of a SME with a turnover of €9 million alongside Eric Thord, picking up the pace together and transforming it into a group that’s now worth nearly €30 million and boasts an international presence… this was an exciting adventure for our team. Bringing the project to the forefront today, and working together with Eurazeo PME and the management to pass on the baton to this key player who will offer its resources and expertise to serve the shared ambition, involved an approach that was different and yet aligned with our ambitions as investors.”

About Eurazeo PME

A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs with a value of under €200 million. As a long-term professional shareholder, it provides its investments with all the financial, human and organisational resources necessary for long-term change, and supports those companies in its portfolio in implementing sustainable and therefore responsible growth. This commitment is formalised and deployed through a CSR (Corporate Social Responsibility) policy.

Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following companies: Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK Direct Group, Orolia, Odealim, Smile, In’Tech Medical. These companies are solidly established within their market and driven by experienced management teams.

For further information, please visit our website: www.eurazeo-pme.com

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Fresks acquires Urban Strålin Byggvaror

Litorina

Fresks continues to expand through the acquisition of Urban Strålin Byggvaror who operates four building material stores in Västra Götaland and Jönköping counties. Previous main owners, Kay and Leo Strålin, will reinvest a significant part of the proceeds from the transaction in Fresks Group. Kay Strålin will remain CEO of Urban Strålin Byggvaror post the transaction.

Urban Strålin founded the company about 40 years ago and for the past years the company has been run by his two sons, Kay and Leo, who has also been the main owners. The business includes four building material stores in Jönköping, Ulricehamn, Töreboda and Liared, the latter also functions as a logistics hub for all entities. Today, the company has about 40 employees and a turnover of approximately SEK 240 million.

After the acquisition Fresks Group will have a total of 31 stores with pro forma revenues of approximately SEK 2 billion and more than 500 employees.

The transaction requires approval from the competition authority.

For further information, please contact:

Leif Lindholm, +46 70 698 27 00, CEO Fresks Group

Fresks, founded in 1862 is a leading Swedish building material retail chain in Sweden focused on the professional segment. The company has 31 stores under various local brands whereof the majority is branded XL-BYGG. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se

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The acquisition of Piab completed

Investor

On April 30, 2018, Patricia Industries, a part of Investor AB, announced the acquisition of leading gripping and moving solutions company Piab from EQT.

Following approval by the competition authorities, the acquisition has now been completed.

The acquisition price is SEK 6.95 bn. For the 12-month period ending March 31, 2018, sales amounted to approximately SEK 1.2 bn. (pro forma) and the EBITDA and EBITA margins were 29-30 and 28-29 percent respectively. Since 2013, average annual sales growth has been approximately 20 percent, of which 11 percent organic. Continued growth in both sales and profit is expected during 2018.

Patricia Industries has injected SEK 5.5 bn. in equity financing for approximately 90 percent ownership of the company. The remainder of the enterprise value has been financed by external debt and equity participation by Piab’s management and the founding family Tell.

This information is not of the kind subject to disclosure obligation by Investor AB pursuant to the EU Market Abuse Regulation.

About Patricia Industries
Patricia Industries, a part of Investor AB, makes control investments in leading companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

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HQ Equita acquires the leading packaging machine manufacturers FAWEMA and HDG (Steindl Group) and establishes The Packaging Group

HQ Capital

Bad Homburg, 13 June, 2018. HQ Equita has signed an agreement to acquire a majority stake in the Steindl Group, which consists of the leading packaging machine manufacturers FAWEMA GmbH (“FAWEMA”) and HDG Verpackungsmaschinen GmbH (“HDG”). These companies together will now operate as The Packaging Group.

 

The Steindl Group’s previous Managing Partner, Peter Steindl, who acquired FAWEMA in 2006 and HDG in 2011, will continue to hold a significant stake in the newly founded TPG Holding GmbH and will play a central role in its operations. Friedbert Klefenz, former CEO of Bosch Packaging, will complete TPG’s Advisory Board as a competent industry expert. Mr. Klefenz invests in TPG Holding along with the company’s further management. In addition, Markus Hüllmann, former board member of GEA Group AG, will enhance the Advisory Board.

 

FAWEMA, founded in 1920 and based in Engelskirchen, and HDG, founded in 1984 and based in Lindlar, already hold leading competitive positions in their respective markets. They specialize in the development and manufacturing of packaging machines for filling dry, free-flowing bulk materials into various types of paper or plastic laminate bags. The machines offer packaging solutions for flour, sugar, baking mixtures, confectionery, animal feed and various chemical products. The product portfolio includes servo- and cam-controlled horizontal form, fill and seal machines with rotary system (HDG), as well as servo-controlled high-performance packaging machines with chamber transport, and vertical, intermittent and continuous form, fill and seal machines (FAWEMA). The product range is completed by appropriate dosing and levelling systems. The service and spare parts business also accounts for around a quarter of TPG’s sales. With Mr. Steindl’s operational expertise, Mr. Klefenz’s strategic competence and industry network, as well as HQ Equita’s financial strength, TPG’s sales and service networks will be strengthened internationally, the aftermarket business will be accelerated and new machine solutions for additional applications will be developed, thus diversifying the product portfolio. The strategy will be enhanced by targeted acquisitions to expand technical expertise, end applications and geographical reach.

 

Peter Steindl, former Managing Partner of the Steindl Group and designated Chief Executive Officer of TPG, underlines the industrial logic of the transaction: “With HQ Equita and Friedbert Klefenz as well as Markus Hüllmann we have found the ideal partners for FAWEMA and HDG to take the next big step, with both companies now operating as The Packaging Group to create a global platform.”

 

Friedbert Klefenz, designated Chairman of the Advisory Board of TPG, adds: “I look forward to using my experience and my network to continue the success stories of FAWEMA and HDG as The Packaging Group. The attractive and rapidly growing packaging machinery market is characterized by consolidation tendencies. I see great potential in the M&A area in particular.”

 

Hans J. Moock, Managing Director of HQ Equita, emphasizes that the transaction documents HQ Equita’s broad experience in the packaging industry: “We are very pleased to have won two top companies with strong positions in their markets: FAWEMA and HDG.”

 

Christine Weiß, Partner of HQ Equita adds: “We know the packaging machinery market very well and have already shown that we are able to successfully exploit attractive growth opportunities and global trends, such as the increasing importance of flexible packaging solutions.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for the second half of June.

 

The Steindl Group was supported in the transaction by the following advisors: Hake Consulting (M&A, Finance), Rentrop & Partner (Taxes) and Fritsch Graf Horsten (Law, Purchase Agreement).

 

HQ Equita was supported by Munich Strategy (CDD), Ebner Stolz (FDD), ERM (Environment, ESG) and Watson, Farley & Williams (Law, Sales Contract, Taxes).

 

About FAWEMA GmbH and HDG packing machines Ltd (Steindl-Group)

 

The Steindl Group essentially consists of the leading packaging machine manufacturers FAWEMA GmbH (“FAWEMA”) and HDG Verpackungsmaschinen GmbH (“HDG”).

FAWEMA (“Factory for Tools and Machines”), founded in 1920, is a leading developer and manufacturer of packaging machines for filling dry, free-flowing bulk materials into various bag types made of paper or plastic laminates. The machines offer packaging solutions for flour & baking mixes, sugar, food & sweets, pet products and chemical powders. The product portfolio includes servo bag packers, cam driven packers, vertical fill seal packers (VFS), vertical form fill and seal machines (VFFS), bundler & collators and special machines. In 2006 Peter Steindl acquired the company from M.A.X. Automation GmbH as part of a management buyout. FAWEMA has operated sales and service branches in East Africa and the USA since 2017 in order to meet the growing local demand for packaging machines in these markets. FAWEMA employs 122 people at its headquarters in Engelskirchen and service technicians worldwide. More information can be found at: www.fawema.com.

HDG was founded in 1984 and employs approximately 80 people at its headquarters in Lindlar. The company specializes in the development and manufacturing of packaging machines for the food, pharmaceutical, chemical, cosmetics and pet food industries. The product portfolio includes includes horizontal form, fill and seal machines (HFFS Pouch) as well as dosing and levelling systems. HDG operates a worldwide service network consisting of numerous representative offices and service employees. In 2011 Peter Steindl acquired the company from the son of HDG founder Christof Glindemann. More information can be found at: www.hdg-packaging.com.

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