|
Almeida Capital is pleased to be a premier sponsor of AltAssets
|
FREE newsletter RSS
INTELLIGENCE
RECRUITMENT
KNOWLEDGE BANK
EVENTS
SECTOR ANALYSIS
HEDGE FUNDS
|
PRINT THIS PAGE Advent International acquires majority stake in German stationery group Herlitz16/08/2005. Source: AltAssets. 
 Advent International has acquired a 65 per cent interest in Herlitz, a German manufacturer and supplier of stationery and papeterie products, from a consortium of banks, which assumed their stake in the company following a financial restructuring in 2001. Financial terms of the deal have not been disclosed.
Advent has also issued a voluntary public tender offer to the free-float shareholders to acquire their 35 per cent interest in the business.
Herlitz generated revenues of €335m last year. The German market currently accounts for approximately 70 per cent of Herlitz's total sales. The company serves customers including major players in the food retailing industry.
Ralf Huep, general manager at Advent International's Frankfurt office, said, 'Despite its past difficulties, Herlitz has maintained its market leadership which is testament to the quality of both its products and service.
'We believe that the business has even greater potential and are very much looking forward to capitalising on the growth opportunities we have identified in both the domestic and neighbouring markets,' Huep continued.
Other recent investments by Advent's German team include the acquisition of Synventive Molding Solutions, a global designer and manufacturer of hot runner systems; HT Troplast, a global diversified plastics manufacturer; and sports rights agency Sportfive.
Copyright © 2005 AltAssets
|
 
|
|
|
