HEXPOL has acquired 100% of the shares in the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc. (“Star Thermoplastics”) from Thomas A. Dieschbourg. Through the acquisition, HEXPOL establishes presence on the growing American TPE market. Thomas A. Dieschbourg founded the company in 1993 and has developed the company into a technically advanced TPE company. Thomas A. Dieschbourg will remain as the President of the company.

“The acquisition of Star Thermoplastics is in line with our growth strategy and will enable HEXPOL to enter the American TPE market through a well-established company with a strong product portfolio.”

Peter Rosén, Acting CEO and CFO

“HEXPOL’s addition of Star Thermoplastics to HEXPOL TPE portfolio is a perfect fit. HEXPOL will provide enhanced capabilities and a better geographic reach. The transaction will be beneficial both to the Star Thermoplastics employees and to HEXPOL.”

Thomas A. Dieschbourg

”Star Thermoplastics will enable us to replicate our successful European TPE growth journey on the larger American TPE market. Both our existing TPE companies in Europe and China and Star Thermoplastics will be stronger through this expanded footprint.”

Ralph Wolkener and Carsten Rüter, Presidents HEXPOL TPE Compounding

Star Thermoplastics currently has a turnover of approximately 20 MUSD with a profitability level below that of the HEXPOL Group. Star Thermoplastics has its operations near Chicago, Illinois, USA at one well-invested location with plenty of growth capacity and has some 30 employees. The main end customer segments are automotive, building & construction, medical, industrial, electronics and consumer.

The acquisition price amounts to 26.5 MUSD on a cash and debt free basis and is funded by a combination of cash on hand and existing bank facilities. Star Thermoplastics will be consolidated by HEXPOL from 1 November 2023.

For further information please contact:

Peter Rosén
Acting CEO and CFO
peter.rosen@hexpol.com

+46 (0) 73 656 49 34

HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets and Seals), and wheels made of polymer materials for truck and castor wheel applications (Wheels). Customers are primarily system suppliers to the global automotive and engineering industry, building and construction industry and within sectors as transportation, energy, consumer and cable industry and manufacturers of medical equipment, plate heat exchangers and forklifts. The Group is organized in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2022 amounted to 22,243 MSEK and the Group has approximately 5,000 employees in fourteen countries. Further information can be found at www.hexpol.com.

Torqx Capital Partners (“Torqx”) is pleased to announce that it has acquired a majority share in ELCEE, a leading fabless supplier of mechanical components and assemblies for a wide range of industries. The company is active in the (co-)development, design, engineering, sourcing, supply chain-and inventory management of mechanical engineered parts. ELCEE is headquartered in Dordrecht and operates through local offices across Europe combined with technical support centers in China, The Netherlands and Poland.

Together with Torqx Capital Partners ELCEE straightaway acquires Prins, a supplier of tailor-made castings and forgings, headquartered in the Netherlands with sourcing & test centers in China and India. The Prins acquisition will complement ELCEE’s current product portfolio, customer base and geographic reach. By joining forces with Prins, the company will be able to offer more value-added solutions to customers and leverage synergies in operations, procurement, and engineering.

Torqx has followed ELCEE with great interest over the last years and is very familiar with its end markets and business model via relevant experience from previous investments. On the back of deep industry understanding and extensive experience, Torqx will support the management team to realize ELCEE’s future organic (and inorganic) growth plans. It is Torqx’ ambition to help ELCEE further develop into the undisputed market leader in its core countries.

Peter Fluitsma, CEO of ELCEE states that: “With Rivean Capital’s support, ELCEE has evolved beyond its Dutch origins to become a pan-European industrial supplier driven by an active buy-and-build strategy. Coming from 9 separate operating companies and refining the ELCEE strategy as of 2018, we created a solid platform ready to facilitate the next phase of profitable growth. Going forward Torqx is a partner that shares our vision and values and has a proven track record of building better businesses in a wide range of manufacturing- technical distribution- and other, mostly B2B industries. With Torqx as our partner and Prins in our group, we will have more resources, capabilities and opportunities to grow and develop ELCEE further.”

Marcel Pot, CEO Prins Castings & Forgings; “With over 85 years of experience, Prins has become a prominent supplier specialised in castings and forgings. Our journey reflects a commitment to quality and innovation, leading us from our origins as a trading entity to our present role as a valued business partner. Joining forces with ELCEE represents a significant milestone. This strategic collaboration, supported by Torqx’s experience and proven track record in building businesses, promises new opportunities and synergies. Together, we’ll leverage our combined strengths and resources to deliver even greater value to our customers and establish our position as a global market leader in the industry.”

Rik Leunissen, Partner at Torqx, further states that: “Over the last years, ELCEE has proven itself as the go-to supplier for customer-specific, mission-critical engineered mechanical components and assemblies. We admire ELCEE as a thriving enterprise that has achieved notable success over the past years and is set for the next phase of accelerated growth. Also, we believe it provides a unique opportunity to both companies to combine ELCEE and Prins as one group – with that further solidifying its market leading position in the Benelux and increasing scale in a.o. the German market. This will allow the companies to be able to become even more successful using ELCEE’s and Prins’ combined market power and scale. We are excited to partner with- and support management in further refining and executing their strategy, leveraging Torqx’ extensive experience with similar businesses and deep industry understanding.”

For this transaction, Houthoff and DLA Piper acted as legal advisors to Torqx, with PwC providing financial and tax due diligence services.

About ELCEE
ELCEE is the go-to fabless supplier of mission-critical engineered and standard mechanical components and assemblies for leading manufacturing industries in North-West Europe. The company has approximately 250 FTE’s and is headquartered in Dordrecht, the Netherlands with local sales offices across Europe and technical support centers in China, The Netherlands and Poland. ELCEE provides in-house engineering support as well as quality control and inventory management and serves customers across the material handling, agri- & food processing, equipment manufacturing, construction- and shipbuilding industries, among others. ELCEE carries a strong engineering driven portfolio, as well as an assortment of products from world class brands Crosby, igus® and Wärtsila which are used as single assortments as well as in assemblies. For more information, please visit www.elcee.com.

About Prins Castings & Forgings
Prins is a supplier of tailor-made castings and forgings and helps out in the engineering, design, and quality control phases. Prins has approximately 50 FTEs, is headquartered in Amersfoort, The Netherlands and has locations in China and India to support local operations. Prins is stockholder for custom made products and serves a variety of industries a.o. railinfra-structure, earthmoving equipment, commercial vehicles, building and construction equipment. For more information, please visit www.primepro.eu.

Technical Safety Services (“TSS” or the “Company”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Controlled Environment Management, LLC (“CEM”). Based in Gilbert, Arizona, CEM is a provider of controlled environment testing, validation, certification, and calibration services required in high-performance, regulated pharmaceutical, biotechnology, and healthcare settings.

TSS is a leading provider of testing, inspection, certification, and calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare, and other life sciences end markets. TSS provides on-site technical services mandated to occur at regular intervals to ensure all clients remain in compliance with regulatory standards. The Company’s services are performed across the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, bio-safety cabinets, medical gas systems, high-purity water systems, laboratory equipment, and more. TSS was founded in 1970 and is headquartered in La Jolla, California.

Marc Boreham, President and CEO of TSS, commented, “We are delighted to welcome CEM to the TSS platform. The CEM team brings significant expertise and dedication to high-quality service, which will further enhance TSS’s support for our valued clients across key strategic capabilities and geographies.”

Matthew Rich, Partner at LLCP, stated, “We are pleased to demonstrate our continued support for the TSS team in this acquisition, which further expands the Company’s geographic presence within the Southwest. We look forward to the continued execution of TSS’s growth and value creation plan through additional strategic M&A and associated growth initiatives.”

The acquisition of CEM is TSS’s seventh since being acquired by LLCP in 2022.

TSS is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

• Metalstudio Group specialises in metal components for the high-end luxury goods market
• Biggest independent supplier on the market – Metalstudio generated 2022 revenues of more than 80 million euros with “Made in Italy” products

Frankfurt/Main, 20 September 2023. MTWH, a group of Italian manufacturers of metal and plastic accessories for the luxury goods industry and a portfolio company of Deutsche Beteiligungs AG (“DBAG”), acquires Metalstudio Group, a supplier of metal goods serving the high-end luxury market segment based in Scandicci near Florence, Italy. Metalstudio’s founder Egidio Salvini will become a shareholder of MTWH, and the company’s chairman. The parties have agreed not to disclose details of the sale.

Metalstudio Group employs more than 300 specialist staff. True to its motto “Made in Italy”, the company is a supplier to some of the most prestigious Italian and French luxury fashion brands. The product range comprises accessories for leather goods and shoes, made from brass, steel and zamak alloys. The company distinguishes itself through highly efficient processes together with extensive production capacity. Its profile is complemented by high levels of craftsmanship, as befits the expression of “Luxury Made in Italy”. Metalstudio Group generated revenues in excess of 80 million euros in 2022. With this acquisition, MTWH strengthens its strategic position as an Italian centre of excellence for luxury market accessories, doubling its revenues to approximately 165 million euros.

DBAG Fund VIII, advised by Deutsche Beteiligungs AG, acquired a majority stake in MTWH in June 2022; DBAG co-invested in that transaction, using its own financial resources. Founded in 2016, MTWH Group has since enjoyed a positive performance through strategic add-on acquisitions and a successful repositioning. The company employs 250 people at its sites near Bergamo and Florence; a Paris office was recently opened to deepen relations with French luxury goods brands.  The Group serves an end market that has grown globally by an average of six per cent per annum over the past 25 years.

“MTWH is active in a market defined by structural growth. The company will further strengthen its market position with this most recent acquisition, which will trigger an increase in highly qualified employees and expand customer access. The acquisition of Metalstudio will help MTWH in its ambition to create a centre of excellence for the luxury goods industry,” said Tom Alzin, Spokesman of the Board of Management of Deutsche Beteiligungs AG.

Cesare Luzzana, Managing Director of MTWH, stated: “MTWH acquires additional expertise with Metalstudio Group that will allow us to strengthen and expand our market presence and our range of services.”

“Customer service, progress and sustainability have been the three guiding principles accompanying our 50-year journey. The collaboration with MTWH, which shares and continues to pursue these key principles, will allow us to further improve our positioning and our customer relationships,” emphasised Egidio Salvini, founder of Metalstudio Group.

Beverwijk and Katwijk, September 14, 2023 – Dutch ventilation specialist Steboma has acquired industry peer Vink Group from investor FIELDS Group. Through this acquisition, the Steboma Group strengthens its position in the designing, engineering, production and installation of ventilation systems within the non-residential market and the group’s annual revenues now amount to approximately €90 million. Vink Group will continue to operate as an independent organization within the broader Steboma Group, with its management team remaining unchanged.

Vink Group specializes in the designing, engineering, production and installation of ventilation systems in the non-residential segment of the ventilation market. The company serves its clients as a “full installer” through its subsidiary “Induct“, as a subcontractor for general installation companies through its subsidiary “Vink Systemen” and as supplier and knowledge partner to a wide range of installation companies through its subsidiary “VSL Air”. Vink’s ventilation solutions are widely used and the company is well known for its leading ventilation solutions for the pharmaceutical, high-tech, agro-tech and food market. Vink serves various large clients in these sectors, including Johnson & Johnson, Bristol Meyers Squibb, and VU Medical Center.

“The Steboma Group has a clear ambition to become the leading ventilation specialist in the Netherlands, with activities in the new-build residential market, the non-residential market, renovation projects and the maintenance of ventilation systems. The acquisition of Vink Group aligns well with this ambition, given their deep-rooted knowledge and expertise in delivering ventilation solutions within the non-residential market. With Vink, the Steboma Group is even better equipped to provide our clients with ventilation solutions that contribute to a clean working or living environment and that contribute to solving their sustainability challenges,” says Marco Koster of Steboma. “With this acquisition, our organization also expands significantly and our workforce now amounts to approximately 240 employees. We look forward to the future collaboration with Vink’s management team and we are excited to welcome their talented employees into the broader Steboma Group.”

Dick Kremers, CEO of Vink Group, states, “We are delighted that Vink will join the Steboma Group. Over the past years, in partnership with investor Fields Group, we managed to redefine Vink’s strategy and have made significant progress with the company. Vink is now well equipped for the future, making this a logical moment for a change of ownership. Vink and Steboma align well in activities and culture, and we can benefit from each other’s extensive expertise, broad customer network and strong reputation. We are furthermore convinced that, with the support of the Steboma Group, Vink can make significant investments and scale further in the coming years.”

Fabianne Onderwater, Investment Director at FIELDS Group, adds, “Vink has undergone a remarkable development in recent years, thanks to a clear strategy and substantial investments in the business and organization. The clear strategy and substantial investments have resulted in strong growth and a unique position in attractive end markets, led by a robust and future-proof team. The combination with Steboma is a logical next step for Vink, and we wish Steboma/Vink all the best for the future.”

The acquisition of Vink is part of Steboma Group’s buy-and-build strategy that was launched last year when pan-European private equity firm Waterland became a shareholder and strategic partner for the future of the Steboma Group in October 2022. To realize its ambition to build a leading ventilation specialist, Steboma actively seeks for partnerships with other specialists in air technology, both in the residential and non-residential segment.

About Steboma

Steboma is a ventilation specialist focusing on the large-scale residential segment in the Netherlands. The company has become one of the leading ventilation specialists and is the preferred partnering for a wide range of well-known construction firms. Steboma employs approximately 100 people and also has a sizeable, flexible workforce. The company has facilities in Beverwijk, Schagen and IJsselstein. For more information, please visit www.steboma.nl.

About Vink Group

The companies within the Vink Group design, supply, install, and maintain air technical infrastructure in businesses across various sectors, including utility, life science, (tech) industry, food, and agro-tech. Vink Group’s solutions are installed at various locations in the Netherlands and abroad. The company employs approximately 155 permanent staff members and 125 temporary workers, with its headquarters in Katwijk. For more information, please visit www.vinkgroep.com.

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing businesses with potential. FIELDS invests in companies headquartered in the Benelux and DACH regions and achieves fundamental transformations with its team. For more information, please visit www.fields.nl.

ASSA ABLOY has acquired Lawrence Hardware and Gallery Specialty, leading providers of commercial hinges, locksets, exit devices and door hardware accessories in Canada.

“I am very pleased to welcome Lawrence and Gallery into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Lawrence and Gallery are well-known, respected brands in Canada and I’m excited for them to become part of ASSA ABLOY,” says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “This acquisition supports our growth ambitions and commitment to the Canadian market by further strengthening our core business and expanding our product portfolio.”

Lawrence Hardware was founded in 1876 and Gallery Specialty in 1989, together employing some 50 employees. The main office and factory are located in Toronto, Canada.

Sales for 2022 amounted to about MCAD 25 (approx. MSEK 200) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.