IK Investment Partners to sell Transnorm to Honeywell

ik-investment-partners

IK Investment Partners to sell Transnorm to Honeywell

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VII Fund has reached an agreement to sell Transnorm Group (“Transnorm” or “the Company”), a leading provider of automation technology used in parcel, distribution and e-commerce warehouses, to Honeywell International (“Honeywell”) (NYSE: HON) for approx. MEUR 425.

Founded in 1957, Transnorm has grown to become a global market leader for high-performance engineered conveyor solutions. The Company serves a global blue-chip customer base with strong relationships to all major system integrators as well as global parcel and e-commerce companies. In addition to its broad product portfolio, Transnorm also offers for its installed base of c. 160.000 units aftermarket services comprised of spare parts, maintenance and repair as well as training to its customers. Transnorm is headquartered in Harsum, Germany, with additional production sites in Arlington, United States and Bangkok, Thailand.

During IK’s ownership, Transnorm pursued a successful strategy of internationalisation, product innovation and the expansion of aftermarket services. The Company also more than doubled its revenues and nearly tripled its operating profit whilst investing significant resources into R&D, product development and production capacity expansion. The Company’s annual sales are approx.
MEUR 100 and are on track to grow by more than 30 per cent in 2018.

Anders Petersson, Partner at IK, said:
“We are delighted with the progress that Transnorm has made over the last years, becoming a true global player. With a new strategic partner in Honeywell and the benefit of additional scale, we are convinced that Transnorm will continue to grow and we thank and wish the management team and employees continued success.”

Sidy G. Diop, Managing Director of Transnorm, said:
“We enjoyed working with the IK team. With their support, we have expanded our international footprint, strengthened our relationships with customers and completed a synergetic add-on acquisition with Sovex which expanded our product offering with (un-)loading modules. We now look forward to working with Honeywell to further build on this success.”

The sale of Transnorm marks the third successful exit from the IK VII Fund.

Completion of the transaction is subject to merger control approvals.

Parties & IK Investment Partners’ advisors involved:

IK Investment Partners: Anders Petersson, Daniel-Vito Günther
Seller legal advisor: Renzenbrink & Partner (Ulf Renzenbrink)
Seller M&A advisor: Alantra (Frank Merkel)
Seller financial advisor: Deloitte (Jens Schulze-Vellinghausen)
Seller commercial advisor: goetzpartners (Sigurd Kitzer)

For further questions, please contact: 

IK Investment Partners 
Anders Petersson
Partner
Phone: +49 40 369 88 50

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566 mikaela.hedborg@ikinvest.com

Transnorm
Guido Vaupel
Head of Marketing
Phone: +49 5127 402 305
guido.vaupel@transnorm.de

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 120 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Honeywell
Honeywell is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable, visit www.honeywell.com

About Transnorm
Transnorm is a leading provider of automation technology and related aftermarket services used in parcel, distribution and e-commerce warehouses. Their products are installed by many well-known, global, end users in a wide variety of industries. Transnorm is the global market leader in conveyor belt curve engineering and manufacturing. The Company has a global engineering and assembly footprint, as well as customer support. Customers can be sure of reliable support wherever they are. For more information, visit www.transnorm.com



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ONCAP Acquires Walter Surface Technologies

Onex

Toronto, Ontario and Montreal, Quebec September 20, 2018

– ONCAP today announced it has purchased a majority stake in Walter Surface Technologies (“Walter” or the “Company”), in partnership with the existing management team. The Walter Group will retain a minority interest in the Company.

Walter is a leading provider of innovative solutions for the metal working industry. Its premium, consumable metal working solutions include abrasives, tooling, power tools, chemical solutions and welding process solutions. The Company sells its portfolio of products to a diverse array of end markets, including metal fabrication, transportation, construction, energy, mining, forestry and lumber, food and pharmaceuticals. Walter was founded in 1952 by Walter Somers and, over the past 30 years, his son Pierre Somers led the Company and expanded it internationally.
“Walter is committed to creating the best performing products and offering innovative, safe, user-friendly and environmentally conscious solutions to its customers,” said Gregory Baylin, a Managing Director with ONCAP. “The Company’s dedication to excellence and strong workforce are what attracted us to the business. We’re thrilled to partner with the management team and the founding family to build upon the entrepreneurial spirit and vision Walter and Pierre Somers created.”

“ONCAP’s Canadian roots and outstanding investment track record make it an ideal partner for us,” said Marc-André Aubé, the newly-appointed Chief Executive Officer of Walter. “Together, we’ll continue to focus on providing the best solutions to our customers to improve their productivity and make their jobs easier and safer. ONCAP’s support will help us grow both organically and through strategic add-on acquisitions.”
“This transaction is the logical step to take Walter to new and exciting heights. The Company is in great hands with Marc-André and the management team we’ve worked hard to build,” said Pierre Somers, the retiring Chairman and Chief Executive Officer of Walter and the Chairman and Chief Executive Officer of Walter Group. “We’re excited to remain a minority shareholder and watch the Company’s growth during this next chapter. The Walter Group will now turn its focus to expanding our investing activities.”
The investment was made by ONCAP IV, Onex Corporation’s (TSX:ONEX) $1.1 billion fund. The terms of the transaction are not being disclosed.

About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with operating
company management teams, ONCAP invests in and builds value in North American
headquartered medium-sized businesses that are market leaders and possess meaningful growth
potential. For more information on ONCAP, visit its website at www.oncap.com.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners
and ONCAP private equity funds, Onex acquires and builds high-quality businesses in
partnership with talented management teams. At Onex Credit, Onex manages and invests in
leveraged loans, collateralized loan obligations and other credit securities. Onex has more than
$33 billion of assets under management, including $6.8 billion of Onex proprietary capital, in
private equity and credit securities. With offices in Toronto, New York, New Jersey and
London, Onex and the team are collectively the largest investors across Onex’ platforms. Onex
shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more
information on Onex, visit its website at www.onex.com.

About Walter Surface Technologies
Walter Surface Technologies provides innovative solutions for the global metal working
industry. From high performance abrasives, power tools and tooling to industrial parts washing
systems, cleaners, degreasers and lubricants Walter focuses on helping its customers work better.
Founded in 1952, the Company is established in 7 countries throughout North America, South
America and Europe. International headquarters is in Montreal and U.S. headquarters is located
in Windsor, Connecticut. Key certification and awards include ISO 9001: 2008, Wall Street
Journal Award; Deutscher Material Preiz; American Eagle Award; CleanTech Cleaning
Technology Award. For more information, please visit www.walter.com.

About Walter Group
For more than 60 years, the Walter Group of Companies has been guided by a strong
entrepreneurial spirit that has been passed down from one generation to the next. Leveraging its
unique position, the Group has evolved into a flourishing ecosystem of companies driven by
entrepreneurship and innovation. Over the years, the Walter Group has been investing and
supporting growth through Walter Financial, a private investment firm targeting both private and
public markets, with permanent capital base and long-term investment horizon. Among its
strategies, Walter Financial has allocated over C$240 million to its two dedicated internal private
equity firms, Walter Capital Partners and newly created Walter Global Asset Management. For
more information, please visit www.waltergroup.ca.

For further information:
Onex
Emilie Blouin
Director, Investor Relations
Tel: +1.416.362.7711
Walter Surface Technologies
Stephanie Boucher
Marketing Communications Manager
E: SBoucher@walter.com
Walter Group
Carl Vallée
HATLEY Strategy Advisors
Tel: +1.514.316.7089
2

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Visscher Caravelle: largest investment of Anders Invest

Anders Invest

On the 14th of September 2018 Anders Invest acquired a 40% stake in Visscher Caravelle from Genemuiden (NL). This company is the worldwide number 1 in the production and sales of car mats. The rapidly growing company is realizing a turnover of more than € 140 million this year and has approximately 1,700 employees. The DNAs of Anders Invest, the current owners and Visscher Caravelle fit well together, which means a growth of to € 200 to € 300 million annual turnover is possible.

 

The company produces textile and rubber (TPE) car mats and related products such as trunk mats and wall cladding for vans. She is a first-tier (“tier-1”) supplier to almost all major car manufacturers. With production sites in Poland, Mexico, China and Malaysia and sales teams in many countries, she is close to her customers. The company invests substantially in product and process development in order to stay ahead on weight reduction, sustainability, recyclability and cost price of car mats. With a distinctly modern vision on growth and development of its – on average young – employees, Visscher Caravelle focuses on a culture of transparency, trust and care for each other in all locations.

 

The company, founded in 1952, grew rapidly from around € 60 million turnover in 2009 to more than € 140 million turnover in 2018. Customers are very satisfied with quality and delivery reliability and keep awarding new car models. Through new customers and expansion of the product portfolio, the management sees sufficient opportunities in the coming years to achieve a turnover level of more than € 250 million. Visscher Caravelle sought for this growth ambition a partner that respects the character of the company, strengthens the strategy and adds professionalism. The long-term perspective of Anders Invest and its expertise in international production companies results in a good match. In addition to the investment by Anders Invest, the capital base will be strengthened by an extension of the credit facility by Rabobank and Bank Santander with approximately € 8 million.

 Gert-Jan Huisman becomes Chairman of the Supervisory Board on behalf of Anders Invest. In addition to Jur Zandbergen (ex-CFO at the Dutch branches of BASF, Syngenta and Johnson Polymers) as representative of the current owners, Han Hendriks will also be a member of the Supervisory Board. Mr. Hendriks is CTO at Yanfeng Automotive Interior Systems (formerly Johnson Controls Interiors), a tier-1 company in interior components with approximately $ 9 billion in sales. Mr. Hendriks is an authority in the field of car interiors and has a sharp vision of the increasing importance of the interior through the development of autonomous, electric (shared) cars.

 

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Swegon acquires Zent-Frenger GmbH from the Uponor Group

Latour logo

Swegon, a wholly owned business area within Investment AB Latour, has acquired Zent-Frenger GmbH.

Zent-Frenger is a leading provider of radiant ceilings in Germany and in addition develops and sells customized commercial heat pumps and concrete activation products. Zent-Frenger’s products are used to create a comfortable indoor climate in commercial buildings such as offices and hotels, as well as residential apartment buildings.

The company develops and assembles its products in Heppenheim, Germany. The company employs about 100 staff with a turnover in 2017 of 29 MEUR.

“As ‘The Indoor Climate Company’, radiant ceilings is a natural addition to our room unit product portfolio. It is a growing product segment in Continental Europe, due to its high comfort characteristics”, says Hannu Saastamoinen, CEO Swegon. ”Zent-Frenger’s highly customized heat pumps is also a strong complement to our existing commercial heat pump offering. Overall, there are numerous synergies we look forward to pursuing together. This acquisition also substantially strengthens our market presence in Germany, being one of the focused growth markets for Swegon”.

“Swegon and Zent-Frenger is a very good match with a shared focus of delivering optimal indoor climate to commercial buildings. We look forward to continued development of the Zent-Frenger business as part of Swegon Group”, says Andreas Linger, Managing Director of Zent-Frenger.

The acquisition is subject to approval by antitrust authorities and closing is expected during October.

The Latour Group’s net debt increases with 18 MEUR through the transaction.

Göteborg, September 5, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson President and CEO

For further information, please contact:
Hannu Saastamoinen, CEO Swegon, +46 31 89 58 10
Gustaf Ahlenius, Director Corporate Development Swegon, +46 31 89 58 19

Swegon Group AB is a company in the Latour Group which manufactures and sells products and systems for an optimal indoor climate. The Swegon group has 2,200 employees with a turnover of about SEK 4 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 53 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.  

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Swegon acquires Zent-Frenger GmbH from the Uponor Group

Latour logo

Swegon, a wholly owned business area within Investment AB Latour, has acquired Zent-Frenger GmbH.

Zent-Frenger is a leading provider of radiant ceilings in Germany and in addition develops and sells customized commercial heat pumps and concrete activation products. Zent-Frenger’s products are used to create a comfortable indoor climate in commercial buildings such as offices and hotels, as well as residential apartment buildings.

The company develops and assembles its products in Heppenheim, Germany. The company employs about 100 staff with a turnover in 2017 of 29 MEUR.

“As ‘The Indoor Climate Company’, radiant ceilings is a natural addition to our room unit product portfolio. It is a growing product segment in Continental Europe, due to its high comfort characteristics”, says Hannu Saastamoinen, CEO Swegon. ”Zent-Frenger’s highly customized heat pumps is also a strong complement to our existing commercial heat pump offering. Overall, there are numerous synergies we look forward to pursuing together. This acquisition also substantially strengthens our market presence in Germany, being one of the focused growth markets for Swegon”.

“Swegon and Zent-Frenger is a very good match with a shared focus of delivering optimal indoor climate to commercial buildings. We look forward to continued development of the Zent-Frenger business as part of Swegon Group”, says Andreas Linger, Managing Director of Zent-Frenger.

The acquisition is subject to approval by antitrust authorities and closing is expected during October.

The Latour Group’s net debt increases with 18 MEUR through the transaction.

Göteborg, September 5, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson President and CEO

For further information, please contact:
Hannu Saastamoinen, CEO Swegon, +46 31 89 58 10
Gustaf Ahlenius, Director Corporate Development Swegon, +46 31 89 58 19

Swegon Group AB is a company in the Latour Group which manufactures and sells products and systems for an optimal indoor climate. The Swegon group has 2,200 employees with a turnover of about SEK 4 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 53 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.  

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The Carlyle Group to Acquire Crestview’s Outstanding Interest in NEP Group

Carlyle

Carlyle Will Partner with NEP Management to Drive Global Growth in the Outsourced Broadcast Services and Live Events Sectors

Pittsburgh, PA — NEP Group, Inc., Crestview Partners and The Carlyle Group (NASDAQ: CG) announced today that Carlyle Global Partners, Carlyle’s long-duration private equity fund, has agreed to acquire Crestview’s remaining shareholding in NEP. Carlyle initially invested in NEP alongside Crestview and Management in June 2016 and, following this transaction, will hold a majority interest in NEP. Carlyle will continue to support management’s strategy of building a diversified worldwide outsourced technical production partner supporting premier content producers of live sports and entertainment.

For over 30 years, NEP has earned the respect of the industry by raising the bar in technical management, production support and engineering. NEP provides vital technical resources and the industry know-how to help clients make, manage and show the world their content ‒ anywhere, anytime, on any platform. The company’s 3,500+ employees are driven by a passion for superior service and client-focused innovation. NEP’s global scale and local service is supported by the industry’s largest inventory of resources, including 160+ mobile units / OB vans, 40+ broadcast flypack systems, 44 studios with custom control room capabilities worldwide, 40K+ square meters of LED, 40+ live event production flypacks and innovative software-based media management solutions. NEP’s global headquarters is located in Pittsburgh, Pennsylvania, and it has operations in 24 countries and the ability to service clients worldwide.

“We’re excited to continue our partnership with Carlyle as we look to expand NEP’s global footprint and service offering. Carlyle Global Partners brings industry expertise, a global network and long-duration capital to support our business and worldwide growth strategy,” said Kevin Rabbitt, CEO of NEP. “We thank Crestview for their support and partnership over the last six years as we expanded our footprint and service offering to become a diversified, global leader.”

Carlyle launched its longer-duration private equity strategy, Carlyle Global Partners, in 2014 to pursue opportunities that leverage Carlyle’s expertise, resources and global platform in investments that benefit from longer hold periods and structural flexibility. The fund has made eight investments to date.

“The management team has grown the business significantly since our original investment. We look forward to continuing to partner with them to build NEP into a fully diversified global outsourced production services business,” said Tyler Zachem, Managing Director and Co-head of Carlyle Global Partners. “We thank Crestview for their support of the business over the last six years and have enjoyed partnering with them.”

“We want to thank CEO Kevin Rabbitt and the rest of the NEP management team for transforming the company from a primarily US-based mobile unit and studios business into the global leader in outsourced production services for live sports, entertainment and corporate events,” added Brian Cassidy, Partner and Head of Media at Crestview Partners. “Since our investment in December 2012, NEP has scaled operations from 2 countries to 24, completed 27 acquisitions, and greatly expanded its breadth of capabilities to better serve its global clients. Carlyle has been a great partner the last two years, and we wish them and the company continued success in the future.”

Jones Day served as legal advisors to NEP on the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors to Crestview on the transaction. Debevoise & Plimpton LLP served as legal advisors to Carlyle on the transaction. J.P. Morgan Securities LLC, Barclays and Patricof Co served as financial advisors to the Company. Berenson & Company, LLC served as financial advisor to Carlyle.

The transaction is expected to close in Q4 2018.

*  *  *  *  *  *

About NEP
For over 30 years, NEP has been a worldwide outsourced technical production partner supporting premier content producers of live sports, entertainment, music and corporate events. Our services include remote production, studio production, audio visual solutions, host broadcast support, premium playout, post production and innovative software-based media management solutions. NEP’s 3,500+ employees are driven by a passion for superior service and a focus on technical innovation. Together, we have supported productions in 87 countries on all seven continents.

NEP is headquartered in the United States and has operations in 24 countries. Learn more at nepgroup.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm. The firm is based in New York and manages funds with over $8 billion of aggregate capital commitments. Crestview primarily focuses on specialty areas including media, financial services, industrials and energy. www.crestview.com

Contact:
Christa Zipf
+1 (212) 813-4578
christa.zipf@carlyle.com

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Capricorn Venture Partners announces SCG as limited partner in the Capricorn Sustainable Chemistry Fund

Bangkok, Thailand and Leuven, Belgium: 23 August 2018 – SCG Chemicals Co., Ltd, part of the Siam Cement Public Company Limited (SCG), one of the largest integrated petrochemical companies in Thailand and a key industry leader in Asia, which offers a full range of petrochemical products, has joined the Capricorn Sustainable Chemistry Fund (CSCF) as limited partner.

SCG has a strong commitment in creating sustainability along with innovations. SCG Chemicals has focused on developing innovation and advanced technology to create high value-added products (HVA), services and solutions.

Cholanat Yanaranop, President of Chemicals Business, SCG: “CSCF matches SCG’s focus on innovation and circular economy. Investing in the CSCF will bring us further corporate venturing insights and both early and later stage potential co-investment opportunities in the sustainable chemicals field.”

Jos Peeters, Chairman of the Executive Committee of Capricorn Venture Partners says, “We already have a financially very strong shareholder base from which we can leverage significant co-investment for the fund investments. With SCG we are not only strengthening the shareholder base of CSCF further, but we have also a partner on board that brings insights, innovation and access to new markets.”

Jacques van Rijckevorsel, chairman of the CSCF: “As a former corporate executive I know what the added value of a fund investment can be for the innovation capability of a corporate investor. It does not only improve the reach of the innovation field, but it also broadens the view of the corporation beyond its current business areas. It provides a good view on technology and business possibilities that may arise beyond the horizon of the normal corporate business planning cycles and allow for early stage option development.”

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– ONCAP Acquires Precision Global –

Onex

– ONCAP Acquires Precision Global –
Toronto, Ontario and Greenville, South Carolina August 7, 2018 – ONCAP today announced it has acquired Precision Global (“Precision”), a leading global manufacturer of dispensing solutions. Terms of the transaction were not disclosed.
Founded in 1949, Precision’s dispensing solutions include more than 12,000 SKUs, which are sold into end markets such as personal care, household, food & beverage, industrial and pharmaceutical. Its products include aerosol valves, actuators, pumps, caps and related aerosol accessories, custom closures and other specialty dispensing solutions. The company is the largest supplier of valves in the world selling more than four billion annually and also produces and sells two billion actuators annually. Headquartered in Greenville, South Carolina, Precision employs more than 1,500 people across 18 facilities in 15 countries and six continents.
“Precision serves a growing market with high-quality, reliable and innovative products that are critical to its customers and end users.” said Ryan Mashinter, a Managing Director with ONCAP. “We are excited to partner with Precision’s management team to accelerate the company’s growth both organically and through acquisitions for years to come.”
“ONCAP’s strong investment track record and deep experience in the packaging industry, makes it an ideal partner for us,” said Mario Barbero, Chief Executive Officer of Precision. “Together, we’ll continue to invest in our business with an ongoing focus to be the best in class global supplier of quality, service and innovation in all regions.”
ONCAP IV invested approximately $111 million, of which Onex Corporation’s (TSX: ONEX) share was $44 million as a limited partner in the Fund.

About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

Onex is one of the oldest and most successful private equity firms. Through its Onex Partners
and ONCAP private equity funds, Onex acquires and builds high-quality businesses in
partnership with talented management teams. At Onex Credit, Onex manages and invests in
leveraged loans, collateralized loan obligations and other credit securities. Onex has more than
$32 billion of assets under management, including $6.7 billion of Onex proprietary capital, in
private equity and credit securities. With offices in Toronto, New York, New Jersey and London,
Onex and the team are collectively the largest investors across Onex’ platforms. Onex shares
trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on
Onex, visit its website at www.onex.com.
About Precision Global
Founded in 1949 by the inventor of the aerosol valve, Precision Global is one of the world’s
leading producers of aerosol valves, custom actuators and other dispensing solutions for a variety
of end markets, including personal care, household, food & beverage, industrial and
pharmaceutical. Based in Greenville, South Carolina, the Company operates a multinational
network of facilities spanning fifteen countries on six continents. For more information on
Precision Global, please visit www.precisionglobal.com.
For further information:
Onex
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711
Precision Global
Thomas Schmidt
Director Marketing and Product Development
thomas.schmidt@precisionglobal.com
2

 

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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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Genstar Capital Announces the Acquisition of BBB Industries

Genstar to Partner with Management to Drive Growth and Expand New Product Technologies, Further Enhancing BBB Industries’ Leading Role as a Supplier in the Automotive Aftermarket


SAN FRANCISCO, August 2, 2018 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the industrial technology, healthcare, financial services, and software industries, today announced the acquisition of BBB Industries, LLC, an industry leader in the automotive aftermarket.

BBB supplies non-discretionary replacement parts in the North American automotive aftermarket, primarily focused on the do-it-for-me (“DIFM”) light vehicle aftermarket and serves vehicle owners, professional technicians and franchised dealers.  BBB Industries has a broad product offering, including starters, alternators, hydraulic steering, brake calipers, electric power assisted steering (“EPAS”) and turbochargers.  Its 30,000+ SKUs are sold through warehouse distributors, retail outlets, and OEM service organizations.  Founded in 1987, the company is based in Daphne, AL.

Rob Rutledge, Managing Director, said, “BBB is an industry leader in the automotive aftermarket with a strong reputation for quality and manufacturing expertise.  We believe we can partner with management to expand the product offerings for BBB’s customers through investments in new technologies, capacity expansions, and acquisitions in BBB’s current and adjacent markets.  Genstar’s ability to move quickly and to provide growth capital will help to further enhance BBB’s market presence and build on its strong relationships with new and existing customers.”

Duncan Gillis, CEO of BBB Industries, said, “Because our products are mission critical to the operation of a vehicle, our key focus is to provide customers with quality, availability, breadth of SKUs, and service.  With Genstar’s expertise and history of successfully building companies like ours, we look forward to transforming our company and taking BBB Industries to the next level while continuing to provide our customers with the highest quality products.  We very much look forward to this new partnership.”

Genstar was advised by UBS Investment Bank and Latham & Watkins LLP in connection with the transaction.

About BBB Industries

BBB Industries, LLC is an industry leader in the remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. BBB takes pride in producing the highest quality products in the industry with exacting standards that apply to customer service, the manufacturing process, product installation and to the performance on the vehicle. Automated test fixtures test every unit manufactured by BBB to meet or exceed OE specifications. Founded in 1987, BBB Industries, LLC is a private company headquartered in Daphne, Alabama. Please see www.bbbind.com for more information.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 25 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion in assets under management and targets investments focused on targeted segments of the industrial technology, healthcare, financial services and software industries.

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MEDIA INQUIRIES

Genstar Capital
Chris Tofalli Public Relations
Chris Tofalli
914-834-4334
chris@tofallipr.com

BBB Industries, LLC
Gerard Yanuzzi
Vice President of Marketing, BBB Industries, LLC
251-438-2737
gyanuzzi@bbbind.com

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