Capvis Acquires Hennecke Group
Private equity firm Capvis, Baar, Switzerland, has signed an agreement with the Munich-based industrial group Adcuram to acquire the German Hennecke Group. Hennecke, Sankt Augustin, is a leading global manufacturer of advanced machinery, equipment and technology for the processing of polyurethane (PU).
Capvis Equity IV LP, a private equity fund advised by Capvis Equity Partners AG 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 and expected to close during the second quarter of 2016.
For 70 years, Hennecke has been developing, manufacturing, selling and servicing technologically advanced, modular equipment and production systems to manufacture PU components and parts. With about 500 employees, Hennecke is headquartered in Sankt Augustin, Germany, and has production sites in Germany, the USA 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 the transaction: “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 PU foam products and lightweight components."
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