Buy-Out Central Europe II Beteiligungs-Invest AG (BCE) has acquired a majority stake in Austrian manufacturer, Austria Email, from UIAG. The deal gives BCE a 63.4% stake at a price of almost €21 million while the remaining shares are split between B&C Holding GmbH (20.6%) and free float (16%).
Though the agreement has been finalized between the two parties, the anticipated closing within the next several weeks is subject to regulatory approval.
Austria Email (www.austria-email.com)
Austria Email is based in Knittelfeld, Austria and is a leading producer of water heaters, alternative energy products, and enamelling technology. The company’s water heaters and boilers, which come in a variety of models and capacities, are used in homes and businesses across Europe.
In the area of alternative energy products Austria Email produces solar panels, solar-powered pump systems and boilers, and digital control units for solar power.
Active in Austria, France, Germany, Italy, and Switzerland, Austria Email earned revenues of €65.2 million in 2009, an increase of 1% over the previous year despite the economic downturn.
Unternehmens Invest AG (www.uiag.at)
UIAG was originally established as a private equity provider in 1990, serving medium-sized and large companies in Austria. The last years UIAG acted as a holding company for the industrial arm of Cross Industries, providing equity financing to Austrian companies in several industrial sectors including electronics, office furniture and equipment, textiles, and automotive products. The company is based in Vienna.
Buy-Out Central Europe (www.buy-out.at)
Buy-Out Central Europe is an Austrian private equity firm focusing on mid-sized companies with a turnover of €30 million and a global vision.
The company invests primarily through traditional buy-outs, debt refinancing, and growth capital. The average investment for Buy-Out Central has a four to six year life span.