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Baird Capital Partners Europe invests in Zarges, sells Hahl29/01/2007. Source: AltAssets. 
 Mid-market private equity firm Baird Capital Partners Europe has backed the €156m MBO of Zarges Tubesca Group, a Weilheim, Germany and Ailly, France-headquartered manufacturer of aluminium-based platform and elevator systems for industry, airports and wind power systems. Zarges is a secondary buy-out, acquired from AlpInvest Funds, advised by Taros Capital.
Zarges manufactures access products (ladders and scaffoldings), logistics equipment (boxes and containers) and façade access systems (façade cranes and façade ladders). Baird is backing the incumbent management team led by CEO Frank Haberstroh, based in Germany, and CFO Bernard Rothan, based in France. The management remain shareholders in the company following the MBO.
Baird has also announced that it has sold Hahl Group, a Munderkingen, Germany-based manufacturer of monofilaments for synthetic brushes, bristles and canvas, to Lenzing Plastics, a subsidiary of Austrian company Lenzing. Terms of the transaction were not disclosed. Baird backed the MBO of Hahl in April 2003 from its US-based parent company.
Hahl's products are used in the manufacture of industrial brushes and filtration, abrasive agents in industrial smoothing processes, and in domestic products such as toothbrushes. Hahl generates annualised turnover of approximately €35m and employs 240 staff, according to a statement.
Baird managing director Simon Havers said, 'Zarges has an experienced management team, technological leadership and strong brands. It has a leading market position in Germany and France, and we believe it has good organic and acquisition prospects, particularly as we look to expand the business further across Europe and into Asia and the Middle East.
'Hahl has been a successful investment with the company achieving consistent growth over the last four years. Our investment enabled the company to capitalise on significant market opportunities as well as achieving a major group reorganisation to create two operating divisions with lower production costs and improved product efficiency. We believe the company should go on to achieve further growth as part of Lenzing,' Havers added.
With currently about €750m of funds under management Baird Capital Partners Europe, the UK private equity arm of Robert W.Baird & Co., focuses on investments in the manufactured products, business services and healthcare sectors.
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