The Carlyle Group enters into exclusive negotiations to acquire HGH Infrared Systems

Carlyle

Paris/Igny, France, 18 May 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has entered into exclusive discussions with HGH Infrared Systems (HGH) to acquire a majority stake in the specialist provider of infrared technology solutions, alongside management.

The proposed transaction will be subject to customary employee consultations and regulatory approvals. Equity for the transaction will be provided by Carlyle Europe Technology Partners III and it is expected to close in Q3/4 this year.

Founded in 1982 and headquartered in Igny, France, HGH develops and sells innovative optoelectronic and infrared systems and software for surveillance applications, test & measurement and industrial thermography to blue-chip customers in different end-markets. In particular, HGH offers a range of high-end solutions for surveillance applications in the security, defense, oil & gas and energy industries with its “Spynel” line of panoramic detection systems and “Cyclope” software for wide area surveillance. Other solutions include equipment for electro-optical systems calibration & testing as well as thermal scanners and pyrometric cameras for remote temperature and combustion monitoring. HGH operates two R&D and assembly sites in the Optics Valley near Paris, France and in California, USA. The company provides solutions to clients across 40 countries through two recognized brands HGH Infrared Systems and Electro Optical Industries (EOI).

Thierry Campos, CEO of HGH Infrared Systems, said: “This potential partnership with Carlyle is excellent news for our customers. It will also help HGH to move to the next level and to build on our strong international growth trajectory. Through significant investment in R&D, we have positioned our company as a technology leader and we have acquired major customer references in a number of markets. Carlyle’s global footprint and scale as well as its experience and networks in the aerospace & defense, oil & gas and energy markets will help us to further develop the company’s international presence and to broaden our blue-chip customer base.”

Vladimir Lasocki, Managing Director and co-Head of the Carlyle Europe Technology Partners team, commented: “Demand for wide area surveillance technologies is accelerating across all geographies, with increasingly sophisticated needs for the surveillance of critical infrastructure. HGH has become a reference in its markets and has built a solid foundation for future growth. In particular, HGH has developed a unique proposition with the Spynel, enhanced by its proprietary software for image processing and analysis allowing it to detect and see several targets at the same time at 360-degrees. We believe Carlyle can provide a platform for growth to HGH and look forward to working on the next phase of growth of the company.”

Cyril Bourdarot, Associate Director on the Carlyle Europe Technology Partners team, said: “We are impressed by HGH’s strong track-record and scalable business model. Over the past few years, HGH has experienced sustained double-digit growth, driven by the company’s outstanding technology solutions, software capabilities and customer-centric approach. We believe there will be significant future demand for HGH’s proprietary technologies and we are excited to partner with Thierry and his team to support the business as it looks to expand and increase growth across different commercial end-markets.”

*****

About HGH Infrared System

HGH Infrared Systems has been an expert in infrared technology for over 30 years. Since 1982, HGH designs, develops, assembles and sells electro-optics systems and software for security, defense, oil & gas, energy and various industrial applications. The company has established itself as an international reference in terms of innovation in infrared technology, through the development of multiple advanced sensors, systems and proprietary software.

HGH Infrared Systems’ Head Office is located in Igny near Paris, in the heart of the French Optics Valley, where the most well-known research laboratories and companies are based.

About the Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 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 1,575 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Carlyle Europe Technology Partners

Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.

Media Contacts
Daphné CLAUDE & Dominic RIDING
carlyle@steeleandholt.com
+33 6 66 58 58 81 92 / +33 6 57 48 83 24   

Katarina Sallerfors
Katarina.sallerfors@carlyle.com
+44 (0)20 7894 3554

 

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Gimv acquires the majority in the leading European photonics solutions provider Laser 2000

GIMV

The European investment company Gimv has agreed with the owners of Laser 2000 GmbH to acquire a 75% stake in the company. Founder and managing director Armin Luft will retain a minority interest.

Laser 2000 (www.laser2000.de) was founded in 1986 and has since then evolved into one of the leading independent European suppliers of innovative laser and photonics solutions. The company’s comprehensive range of products extends from lasers and light sources for the processing of materials, over measurement equipment and fibre optics to 3D imaging, optical power and energy meters as well as cameras. With more than 30 years of experience in the market, Laser 2000 is a photonics pioneer and can therefore benefit from long-standing customer and supplier relationships. It serves renowned companies and research institutes in the fields of automation and sensor technology, optical communications and network technologies, biotech and medicine, automotive and aerospace.

Headquartered in Weßling (Germany), the company, which employs a total of 65 people, has continuously grown its business in recent years by establishing subsidiaries in other European countries (France, Spain, Sweden), capitalising on the steady growth of the photonics market.

Laser 2000 is well positioned to continue this development in the future: the company will keep expanding both its national and international business activities in the years to come, continuing to act as a trusted and competent partner and adviser to its clients and suppliers. Thanks to its broad range of products and services complemented by customised systems solutions, Laser 2000 is ideally suited to meet all customer requirements in this market. On top of that, new emerging fields of applications for laser technology are expected to contribute to a continuously strong growth of the photonics market.

Armin Luft, founder and managing director of Laser 2000, explains: “Optical technologies keep spreading to new industrial applications. We are known for innovation, creativity, quality and superior customer satisfaction in the photonics market for over 30 years, and we intend to keep growing. I am delighted that in Gimv we have found a new partner, who stands for successful, long-term cooperation and sustainable value creation in the SME segment. We share the excitement for technologies of the future and we will continue to develop Laser 2000’s success story together.”

Ronald Bartel, a Munich-based Partner in Gimv’s Smart Industries platform, adds: “As a technology spanning over all major sectors, photonics will put its mark on the 21st century from both, a technological and economic perspective, be it in Industry 4.0, autonomous driving, diagnostics or broadband networks.  Acting as an independent intermediary between customers and a plethora of suppliers and products, Laser 2000 is ideally positioned to participate in and benefit from this development. The company has what it takes to expand its market leadership – and we look forward to helping it reaching these goals in the future.”

The transaction is subject to regulatory approval. No further details will be disclosed.

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Novolex To Acquire The Waddington Group From Newell Brands

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Carlyle

Novolex, a portfolio company of The Carlyle Group and an industry leader in packaging choice and sustainability, today announced it will acquire The Waddington Group from Newell Brands, Inc. The transaction is expected to close in approximately 60 days.

Headquartered in Covington, Ky., The Waddington Group is a global manufacturer and marketer of packaging and disposables serving the foodservice, bakery, deli, produce and confectionery markets. Novolex is a leading provider of packaging solutions serving retail, grocery, food service, hospitality, institutional and industrial markets.

“We are excited to add The Waddington Group to the Novolex family of businesses,” said Stan Bikulege, Chairman and CEO of Novolex. “This is a period of strategic growth and development at Novolex. Adding rigid plastic food packaging and an expanded range of sustainable packaging products have been key strategic priorities, and The Waddington Group has long been our top acquisition target. The company brings Novolex world-class product innovation, long-term customer relationships, and, most importantly, adds to our talented and dedicated team. We are excited to have Waddington CEO John Wurzburger and his team join the Novolex family.”

The Waddington Group has a footprint that includes 16 sites in the U.S., Canada, Ireland, The Netherlands and the U.K., and approximately 3,000 employees worldwide. “The Waddington Group is a great fit for Novolex. The company has a strong track record of developing innovative packaging solutions and, like Novolex, is a market leader in sustainability,” Stan added.

The acquisition of The Waddington Group is Novolex’s eighth since 2012. Previous Novolex acquisitions include Shields Bag & Printing (January 2018), Burrows Packaging (December 2016), Heritage Bag (April 2016), Wisconsin Film & Bag (September 2015), Packaging Dynamics (December 2014), Duro Bag (July 2014) and a portion of Clondalkin Group’s North American Flexible Packaging Division (April 2013).

“The Novolex team and our financial partners have brought together a select group of great businesses – all leaders in their respective product categories – into the Novolex family.  The companies that have joined our family are investing, growing and performing well,” Stan noted.  “We are grateful for the support of The Carlyle Group as we take this big step with The Waddington Group.”

“Novolex and The Carlyle Group have forged a strong partnership,” said Wes Bieligk, Principal, The Carlyle Group. “This acquisition illustrates our meaningful commitment to Novolex’s growth plans. We have great confidence in Stan and his team.”

With the addition of The Waddington Group, Novolex will have approximately 10,000 team members and 62 manufacturing plants worldwide.

Equity for the acquisition will come from Carlyle Partners VI, a $13 billionU.S. buyout fund.

About Novolex
Novolex is one of North America’s leaders in packaging choice and sustainability serving retail, grocery, food service, hospitality, institutional and industrial markets. With the pending addition of The Waddington Group, the company will have approximately 10,000 team members and 62 manufacturing plants worldwide. Headquartered in Hartsville, S.C., the Company’s brands include Hilex Poly®, Duro Bag®, Bagcraft® Packaging, De Luxe® Packaging, General Packaging Products, International Converter, Shields®, Heritage® Bag, and Burrows Packaging. For more on Novolex and its sustainability leadership, visit www.Novolex.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 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 1,575 people in 31 offices across six continents. www.carlyle.com.

About The Waddington Group
The Waddington Group (TWG) is a major global packaging manufacturer and marketer headquartered in Covington, Ky., Waddington’s brands include Eco-Products, the leader in the green packaging space; POLAR PAK® containers, serving ware, drink-ware and cutlery; and WNA upscale disposable plastic products. TWG has 3,000 team members and 16 manufacturing locations worldwide. TWG is a subsidiary company of Newell Brands, Inc., a global consumer goods company.

Media Contact:
Mark Daniels, Novolex™
Phone (904) 834-3707
Mark.Daniels@Novolex.com

 

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Ardian sells its stake in Serma Group

Ardian

Paris, 2 May 2018Ardian, a world-leading private investment house, today announces the signing of an agreement for the sale of its stake in SERMA GROUP (“SERMA”) to an holding controlled by the management and Chequers Capital. SERMA is one of France’s leading providers of specialist consultancy and expertise services for embedded electronic technologies and systems.

Founded in Pessac, France in 1991, SERMA is a mid-market specialist in electronic technologies for sectors operating in high-stress environments, including the aerospace, space, automotive, transport, energy and medical industries. SERMA is active throughout the entire value chain (from semiconductors to integrated electronics) and throughout the electronics life cycle. It focuses on four main business lines: technological expertise, systems security, embedded systems engineering, and the design and development of specific components (with an in-house ceramic assembly unit).

Since Ardian acquired its stake in April 2015, SERMA has demonstrated strong growth, both organically via the creation of its new business line, Safety and Security in June 2016, and through two acquisitions. In September 2016, SERMA acquired Opale Security, a company based in Rennes specialising in cybersecurity. In April 2017, it acquired Aw2S, a Bordeaux-based company specialising in radio frequency engineering. SERMA recorded turnover of almost €100 million in 2017.

Philippe Berlié, CEO of SERMA GROUP, commented: “I would like to warmly thank the teams at Ardian for their valuable support and in particular their expertise in external growth strategies. During this partnership, we have consolidated our position as an electronics specialist through the development of our new business, Safety & Security, and laid solid foundations to continue growing under highly favourable conditions.”

Arnaud Dufer, Managing Director & Head of Ardian Expansion France, added: “We are grateful to have had the chance to support such a talented management team, led by CEO Philippe Berlié. Since Ardian acquired its stake, SERMA GROUP has achieved both consistent organic growth, and external growth via strategic targeted acquisitions. The company is ideally positioned to continue its development alongside Chequers Capital.”

Aurélien Klein, Director of Chequers Capital, added: “SERMA is a high-performing group which has identified very attractive opportunities notably in the test and security sector, thanks to its strong management team. We are delighted to receive the trust of the management to support them in this new stage;  our objective will be to help Philippe Berlié and his teams to pursue the growth and specialization of the group, with a strategy which aims at developing Safety & Security activities while maintaining a strong differentiation.”
The transaction has been submitted to the bank for financing and for approval from the antitrust authorities. On completion of these actions, closing of the transaction should take place in June 2018. In line with legal requirements, the buyer will submit a mandatory public tender offer on SERMA GROUP shares.

ABOUT SERMA

SERMA GROUP offers an independent, international one-stop-shop for services in electronics. Specialized in electronic technologies for high stress environment, the group has developed around its culture of technical excellence and its in-house network of experts. Throughout the electronics life cycle, SERMA GROUP provides global offers around 4 major themes:
– Technologies and process (analysis, test and expertise)
– System security (consulting and rating “CESTI”, certified ANSSI)
– Embedded system engineering (design, development, qualification, production and maintenance)
– Microelectronics (design and industrialization of embedded systems, thick layer ceramic, ceramic assembly)
900 engineers and technicians are the strength of the Group operating with 10 industrial sites in France and Germany to serve its clients: aeronautics, automotive and transport, industry, space, energy and medical.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$67bn managed or advised in Europe, North America 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 490 employees working from thirteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of c.700 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.Follow Ardian on Twitter @Ardian

ABOUT CHEQUERS CAPITAL

Created in 1973, Chequers Capital is one of the oldest investors in Europe. It is an independent company, which manages around €2 billion. It is one of the leading players in mid cap private equity investments with a team of 20 investment professionals based in Paris, Munich and Milan. Chequers Capital invests in industry, services, retail and more globally in companies which have a strong international development potential.

LIST OF PARTICIPANTS

ARDIAN

  • Ardian Expansion: Arnaud Dufer, Maxime Séquier
  • Legal: McDermott Will and Emery (Grégoire Andrieux, Diana Hund)

SERMA GROUP

  • Philippe Berlié, Xavier Morin, Bernard Ollivier, Olivier Duchmann and Mirentxu Boutet
  • Legal: Apollo (Florence Savouré, Laura Smyrliadis, Delphine Dillemann) and SCP Chepeau, Lumeau & Associés (Frédérique Lumeau)

CHEQUERS CAPITAL

  • Aurélien Klein, Andrea Sartori, Jérôme Kinas
  • Legal advisor and legal, tax, social due diligence: Hogan Lovells (Stéphane Huten, Arnaud Deparday)
  • Strategic due diligence: CMI (Nicolas Kandel, Romain Girard)
  • Financial due diligence: 8 Advisory (Christian Berling, Dimitri Cromback)

FINANCING

  • CACIB: Olivier Malard, Cheikh Ba, Isabelle Saurel
  • Crédit Agricole Nord Midi Pyrénées: Sylvain Fauchard, Christian Candelon, Eric Boillot, Marion Trouche
  • Crédit Agricole Aquitaine: Corinne Auffret, Christophe Mouisset, Guy Rolland
  • CIC: Anne Bardou, Jérémie Malin
  • CIC Sud-Ouest: Jean-Renaud Dallay, Emmanuelle Leostic
  • CM-CIC Private Debt: Alexis Drouillot, Maire de Taisne, Thibaut Picard
  • BNPP: Patrick Boury, Xavier de Lestrange, Guillaume Chesnel, Sandrine Laurier, Marc Christiaen
  • BNP Paribas European SME Debt Fund: Cyril Loiry, Christophe Carrasco
  • Amundi: Marlène Archer, Julien Paycha
  • Neuflize OBC: Guillaume Boudet, Elisabeth Virag, Cédric Plantier
  • Legal: Goodwin Procter (Arnaud Fromion, Adrien Paturaud, Marie Domas Margarit)

PRESS CONTACTS

ARDIAN
Headland
CARL LEIJONHUFVUD

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Full acquisition of Groku

Anders Invest

Full acquisition of Groku

May 2, 2018

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Anders Invest

 

On the 25th of April Anders Invest has completed her eleventh acquisition with the full acquisition of Groku in Kampen. The shares were bought from Heritage B, an international industrial holding company. The current management will remain at the company.

 Groku is active in the Benelux as a producer of customized professional kitchen furniture. The customers are project designers who supply kitchens and large-scale technology to catering establishments, hotels, company canteens, healthcare institutions and governments. Groku has a large production facility in Kampen, including an automated laser welding robot, laser cutter, CNC machining center, hydraulic rubber press and press center.

 The company has a long and stable history and is the largest player in its segment within the Benelux. 

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Piab becomes a new subsidiary within Patricia Industries

Investor

Patricia Industries, a part of Investor AB, has agreed to acquire the Swedish company Piab Group AB from EQT. Piab is a leading gripping and moving solutions company that develops and manufactures a complete line of products such as vacuum pumps and ejectors, suction cups and vacuum conveyors used for gripping and moving applications in automated manufacturing and logistics processes. These products are typically placed at the end of a robotic arm or mechanical machine, and help customers improve productivity, energy-efficiency and working environments. Piab’s customer base covers a wide range of industries, such as automotive, e-commerce logistics, food, pharma, packaging, robotics OEMs, and electronics.

“Piab has a strong management team and corporate culture. It provides critical premium products in an attractive market niche. We see significant growth opportunities, driven by the trend towards increased automation. Piab has leading market positions, a large share of recurring revenue, high profitability and strong cash flow generation. By utilizing our broad network of seasoned industrialists and our experience within the engineering sector, we look forward to contributing to taking Piab to the next level”, comments Investor AB CEO Johan Forssell.

The enterprise value amounts to 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 percent 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 expects to inject approximately SEK 5.5 bn. in equity for majority ownership of the company. The remainder of the acquisition will be financed by external debt and equity participation by the management and key individuals within Piab.

“We are proud to become owners of Piab and we look forward to working together with the top-notch management team to further develop the company. Focus will remain on growth, including increased penetration in existing markets and broadening of the product portfolio, both organically and through acquisitions”, states Christian Cederholm, Co-Head Patricia Industries.

“I am thrilled for Piab to become a part of Patricia Industries and Investor. Their long-term approach, engaged ownership model and focus on innovation will clearly help propel Piab in its next development phase, not least when it comes to expansion into new markets. This will help us strengthen our market position and offering even further”, says Anders Lindqvist, CEO of Piab.

The acquisition is subject to approval by the relevant competition authorities. Closing is expected during the second quarter, 2018. The transaction is not of the kind subject to disclosure obligation by Investor AB pursuant to the EU Market Abuse Regulation.

About Piab
Piab provides smart solutions for the automated world, helping thousands of end users and machine producers in e-commerce logistics, food, pharma, automotive and other manufacturing industries to improve energy-efficiency, productivity and working environments. With 430 employees and SEK 1bn in sales 2017, Piab is a global organization, serving customers in almost 70 countries from a network of subsidiaries and distributors. By leveraging the ongoing technological development in automation and robotics, and targeting high-growth segments and geographies, Piab’s vision is to become the global leader in gripping and moving solutions. For more information, visit www.piab.com.

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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Latour acquires Johnson Level & Tool Mfg. Co., Inc.

Latour logo

Investment AB Latour has, through its subsidiary Hultafors Group AB, signed an agreement to acquire Johnson Level & Tool Mfg. Co., Inc., (“Johnson”) based in Wisconsin in the United States. Closing will take place with immediate effect.

Johnson is a well-recognized provider of layout and measuring tools, being a market leader in several channels of distribution. Net sales amounted to c:a 36 MUSD in 2017 with a profitability well in line with Latour’s financial targets. The company has 70 employees.

The acquisition is part of Hultafors Group’s strategy to strengthen its presence in North America. Through the acquisition Hultafors Group will gain access to a wide network of distribution points in relevant sales channels in the United States, as well as a complete portfolio of levels, lasers and other construction measuring, marking and layout tools.

“We are excited and honored to be given the opportunity to inherit this company, which the Johnson family has built up and developed over many, many years. Johnson brings a strong portfolio of products and customer relationships that I believe will make a significant contribution to Hultafors Group going forward”, says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group is a company which we have known for 30 years and we believe the long-term perspective and commitment that characterizes Hultafors Group will form an excellent foundation for further developing Johnson as a company for many years to come”, say Bill and Bob Johnson, previous owners of Johnson.

As an effect of the acquisition the net debt of Investment AB Latour is expected to increase to almost SEK 5,0 billion.

Göteborg, April 30, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson, CEO

For further information, please contact:
Ole Kristian Jødahl, CEO Hultafors Group AB, +47 900 88 305
Jens Eriksson, Director, M&A and Strategy Hultafors Group AB, +46 702 114 601

Hultafors Group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Through its various brands Hultafors Group is represented in 40 countries and has over 11,000 point of sales. Hultafors Group has 700 employees and an annual turnover of about SEK 1.9 billion.

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed 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 50 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.

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Weener Plastics acquires Proenfar to create a leading player in the Latin American dispensing products market

3I

3i Group plc (“3i”) today announces that Weener Plastics Group (“WP”), a leading manufacturer of innovative plastic packaging products for fast moving consumer goods companies in which 3i invested in June 2015, is acquiring Proenfar, a Colombia-based manufacturer of pharmaceutical and cosmetics plastic packaging solutions for the Latin American market.

This acquisition fits WP’s strategy of strengthening its geographic footprint, adding new innovative products to its existing portfolio and increasing its market share in strategic product categories such as deodorant packaging as well as entering new end markets, i.e. pharmaceutical.

The combined business will make WP a leading player in Latin America with revenues in excess of €90m in the region, through expanding its existing Mexican operations and adding new manufacturing sites in Colombia and Argentina, as well as a number of regional sales offices.

Proenfar, which employs more than 1,600 staff, was founded in 1946 and is a manufacturer of value-added packaging solutions for the pharmaceutical and cosmetic end markets. The company has four production sites and seven sales offices across Latin America. It serves clients across 20 countries and approximately 30% of its revenues are exports. The company’s services cover the entire value chain from project management and concept development, through tool building and testing, to production and filling.

Ulf von Haacke, 3i Managing Director and Head of Industrial, 3i Private Equity, commented:

“Proenfar fits perfectly into WP’s strategy of strengthening its emerging markets presence, growing in strategic product categories and adding innovative products. By acquiring Proenfar, WP will become a leading player in the Latin American dispensing products market and Proenfar will diversify WP’s current end market exposure through the addition of high margin pharma packaging.”

Roel Zeevat, Chief Executive Officer of WP, said:

“I am delighted by the acquisition of Proenfar which expands our offering into new geographies and products. The company is a leading player in the Latin American plastic dispensing packaging market and is very focused on innovation, with 40 R&D employees dedicated to launching new products and improvements, which will benefit our customers. We look forward to working with our new colleagues at Proenfar to drive further growth in our business.”

-Ends-

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IK Small Cap II Fund to support Bahr Modultechnik GmbH

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap II Fund together with Management and the founders has reached an agreement to acquire Bahr Modultechnik GmbH (“Bahr” or “the Company”), a leading manufacturer of modular positioning systems. Financial terms of the transaction are not disclosed, and the completion of the transaction is subject to regulatory approvals.

Founded in 1990 by the brothers Frank and Dirk Bahr, Bahr Modultechnik focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of industries from mechanical engineering to medical technology. The Company’s unique linear positioning systems are sold in more than 20 countries around the globe.

The investment marks the first acquisition of IK’s recently raised IK Small Cap II Fund which closed at its hard cap of EUR 550 million in February 2018. Bahr represents the core characteristics that IK looks for in a business including: (i) highly sophisticated product offering at industry leading quality and performance levels, (ii) strong customer retention with >90% of sales related to recurring and repeating loyal customers, (iii) capable management team and (iv) track record of long-term and sustainable profitability and growth.

Bahr is a market leading family-owned business, led by founder Dirk Bahr who will continue to manage the business day-to-day alongside Cihan Halavurt (Head of Sales and Strategy). IK will work with Dirk and Cihan to accelerate the Company’s organic growth strategy and will continue to invest in its operations, route-to-market and product development.

Frank Bahr, Founder, said:
”We are very proud of the Company’s development and to have found the right partner in IK for the years to come. This is a natural time for a change in ownership structure.”

Dirk Bahr, Founder, commented:
”Innovation has always been at the heart of our business as we seek to provide our customers with practical solutions using the highest quality materials and technology. In IK we have found a partner who shares our mind-set. We look forward to working together with their experienced team to continuously develop the Company and its market positioning.”

Nils Pohlmann, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund said:
“We are delighted to be working with the management team to build on the great achievements of the Bahr family, who has successfully established Bahr as one of the most innovative industrial companies for linear positioning systems. IK has a strong track record of successful investments in industrial companies and also in managing succession situations. We look forward to supporting the Company’s expansion.”

The acquisition of Bahr represents IK’s sixth small cap investment in DACH and first investment in the newly established IK Small Cap II Fund.

For further questions, please contact:

IK Investment Partners
Nils Pohlmann, Partner
Phone: +49 40 369 88 50

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

Bahr Modultechnik
www.bahr-modultechnik.de
Phone: +49 5722 99 33 0

About Bahr Modultechnik GmbH
Bahr is an expert partner for sophisticated and practice-oriented customized linear technology, which is sold in more than 20 countries throughout the world. Depending on the individual requirements, Bahr’s systems are provided with spindle drive, toothed rack drive, belt drive or a different drive concept. Bahr is certified according to the standards of DIN EN 9001 and 14001 – for first-in-class quality. For more information, visit
www.bahr-modultechnik.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 115 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

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IK Small Cap II Fund to support Bahr Modultechnik GmbH

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IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap II Fund together with Management and the founders has reached an agreement to acquire Bahr Modultechnik GmbH (“Bahr” or “the Company”), a leading manufacturer of modular positioning systems. Financial terms of the transaction are not disclosed, and the completion of the transaction is subject to regulatory approvals.

Founded in 1990 by the brothers Frank and Dirk Bahr, Bahr Modultechnik focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of industries from mechanical engineering to medical technology. The Company’s unique linear positioning systems are sold in more than 20 countries around the globe.

The investment marks the first acquisition of IK’s recently raised IK Small Cap II Fund which closed at its hard cap of EUR 550 million in February 2018. Bahr represents the core characteristics that IK looks for in a business including: (i) highly sophisticated product offering at industry leading quality and performance levels, (ii) strong customer retention with >90% of sales related to recurring and repeating loyal customers, (iii) capable management team and (iv) track record of long-term and sustainable profitability and growth.

Bahr is a market leading family-owned business, led by founder Dirk Bahr who will continue to manage the business day-to-day alongside Cihan Halavurt (Head of Sales and Strategy). IK will work with Dirk and Cihan to accelerate the Company’s organic growth strategy and will continue to invest in its operations, route-to-market and product development.

Frank Bahr, Founder, said:

”We are very proud of the Company’s development and to have found the right partner in IK for the years to come. This is a natural time for a change in ownership structure.”

Dirk Bahr, Founder, commented:

”Innovation has always been at the heart of our business as we seek to provide our customers with practical solutions using the highest quality materials and technology. In IK we have found a partner who shares our mind-set. We look forward to working together with their experienced team to continuously develop the Company and its market positioning.”

Nils Pohlmann, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund said:

“We are delighted to be working with the management team to build on the great achievements of the Bahr family, who has successfully established Bahr as one of the most innovative industrial companies for linear positioning systems. IK has a strong track record of successful investments in industrial companies and also in managing succession situations. We look forward to supporting the Company’s expansion.”

The acquisition of Bahr represents IK’s sixth small cap investment in DACH and first investment in the newly established IK Small Cap II Fund.

For further questions, please contact:

IK Investment Partners
Nils Pohlmann, Partner
Phone: +49 40 369 88 50

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

Bahr Modultechnik
www.bahr-modultechnik.de
Phone: +49 5722 99 33 0

About Bahr Modultechnik GmbH
Bahr is an expert partner for sophisticated and practice-oriented customized linear technology, which is sold in more than 20 countries throughout the world. Depending on the individual requirements, Bahr’s systems are provided with spindle drive, toothed rack drive, belt drive or a different drive concept. Bahr is certified according to the standards of DIN EN 9001 and 14001 – for first-in-class quality. For more information, visit www.bahr-modultechnik.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 115 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

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