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Capvis has signed an agreement with the German-based industrial group ADCURAM to acquire the German Hennecke Group (Hennecke).
Capvis Equity IV, a private equity fund advised by Capvis Equity Partners (together “Capvis”) has agreed to acquire 100% of the shares of Hennecke from the industrial group ADCURAM, its former owner. The transaction is subject to approval from antitrust authorities.
Capvis says that with about 500 employees, Hennecke is headquartered in Sankt Augustin, Germany, and has production sites in Germany, US and China. The group generates annual sales of around EUR 120 million from its equipment, engineering, and after-sales service businesses and is well diversified by both industry and geography.
Eric Trüeb, Partner at Capvis, comments, “As a global market and technology leader in an attractive market, Hennecke ideally complements the existing portfolio of industrial companies held and advised by Capvis. We are happy to further develop this company together with its existing management team. The focus remains on maintaining the high pace of innovation, achieving further efficiency gains for the customers, and tapping into new markets and application areas for the promising PUR foam products and lightweight components.”
Rolf Trippler and Alois Schmid, Managing Directors of Hennecke, comment further, “With Capvis, we now have a new strategic partner at our side who shares our passion for innovation, precision, and outstanding engineering and service. In addition, we highly appreciate the comprehensive industrial know-how and its internationally proven consultancy and leadership skills which Capvis will use to support our ongoing strategic development.”
The transaction is expected to close during the second quarter of 2016.
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