AXA Private Equity has ended its six-year relationship with Germany’s Gealan, by selling the window maker to Halder, a subsidiary of Belgium’s Gimv. The minority shares currently held by Gealan management and board members will remain in their possession once the sale is complete. Under AXA’s guidance, Gealan increased turnover, despite the economic crisis which has loomed over the world’s economies.
For AXA Private Equity, the deal comes hard on the heels of their acquisition of a 22% stake in France’s FitnessBoutique.
Gealan (www.gealan.de)
Gealan is a manufacturer of PVC window systems sold to customers throughout Europe. While the core of the company’s business is focused on Germany, Gealan products are exported to Belgium, France, the Netherlands, Romania, Poland, and Lithuania.
The company also has obtained a production license in Russia and a Croatian distribution subsidiary.
In addition to PVC windows, the company also manufactures aluminum skirting, a variety of interior and exterior doors, shutter systems, and ventilation systems.
The company’s 2010 turnover was reported at €220 million.
Halder (www.halder.eu)
Halder is a private equity and management firm focused on management buyouts in small and midsize companies.
Halder prefers majority stakes in already established companies with a turnover of €20-€400 million. The company believes in the strength of SMEs, particularly in the manufacturing sector, and applies its years of manufacturing experience to its investment strategy.
In 2008 Halder passed a milestone by reaching a mark of €500 million returned to institutional investors.
11/02/2011
Central & Eastern Europe, Germany, Investment, Private Equity News, Real Estate & Construction