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PRINT THIS PAGE Industri Kapital to acquire Flabeg from EquiVest/CBR07/04/2008. Source: AltAssets. 
European mid-market private equity firm Industri Kapital has agreed to acquire Nuremberg, Germany-headquartered mirror manufacturer Flabeg from German private equity firm EquiVest/CBR. Financial terms were not disclosed. Flabeg recorded sales of €100m in the financial year 2006-2007. It has projected sales for the financial year ended March 2008 of €150m, according to a statement.
Flabeg has two operating divisions. The Automotive division produces mirror glass for exterior and interior applications for passenger cars and commercial vehicles, while the Solar division manufactures parabolic mirrors used in large-scale Concentrated Solar Power plants for the generation of electricity. EquiVest/CBR acquired the company in 2000.
Eberhard Crain, partner, CBR, said, 'A close cooperation between shareholders and management, as it is characteristic for successful German Mittelstands companies, has proven very fruitful.'
IK closed its sixth fund, the €1.7bn Industri Kapital 2007 Fund, in autumn of last year. The firm's current investments in Germany include Schenck Process, Minimax and Sport Group. Past investments included Dywidag Systems International and Gardena.
CBR completed the fundraising for the €200m EquiVest II Fund in June 2007. EquiVest invests in companies based in Germany, Austria and Switzerland.
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