Sun Capital Partners affiliate acquires Flabeg Deutschland, a German supplier of automotive glass products
Sun European Partners GmbH (together with its affiliates “Sun”), a leading private investment advisory firm specializing in leveraged buyouts and investments in market-leading companies, has announced that an affiliate completed the acquisition of Flabeg Deutschland GmbH (“Flabeg” or the “Company”), a premier supplier of high-performance automotive glass products. The parties agreed to keep the purchase price confidential.
Flabeg with its headquarters in Nuremberg, Germany, has more than 130 years of experience in fine glass products, in particular for the automotive industry. With its nine sites, Flabeg is represented on all major markets in the world. Thereby, Flabeg develops optimum solutions for the widest range of glass and mirror applications worldwide and is the world’s leading manufacturer of mirrors for the automotive industry.
Andreas Katzer, CEO of Flabeg, says: “With Sun we have found the perfect partner and a financially strong backer who will support us on our way to develop our business further and to capitalize on future growth opportunities. We are delighted to have them on board.”
The acquisition of Flabeg marks a first important investment milestone after Sun has opened its new office in Frankfurt in the summer of 2015. Andreas Bösenberg, Managing Director of the Frankfurt office, says: “Based on its outstanding customer base as well as best-in-class operations in combination with strongly growing product innovations and high market share in the global automotive mirror glass market, Flabeg has a significant inherent growth and strategic upside potential. We are very much looking forward to support Andreas Katzer and his team in today’s exciting times.”
Michael Kalb, Senior Managing Director at Sun, adds: “With its strong economic position, Germany is one of our key markets in Europe. Its proven track record in innovation bringing forth new technologies and cementing market leading positions of German companies suggests a steady and healthy development which we will concentrate on leveraging.”
About Flabeg Deutschland GmbH
More than 130 years’ of experience have made Flabeg a leader in glass processing. Flabeg has played a key role in defining the glass finishing market since the very beginning and has significantly shaped technological development in this field. Continuous investment in innovative technology puts Flabeg in a position to develop optimum solutions for the widest range of glass and mirror applications worldwide. With more than 1,500 employees Flabeg creates significant added value for its customers. Flabeg operates eight state-of-the-art production facilities in Europe (Germany, Czech Republic, France and Hungary), the Americas (United States and Brazil), and Asia (two in China), which are complemented by R&D centers in Germany and France.
About Sun European Partners GmbH
Sun European Partners GmbH is an adviser to Sun Capital Partners, Inc. (“Sun Capital”) focused on investments in Germany, Austria and Switzerland. Sun Capital is a leading private investment advisory firm, focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results. Sun Capital is a trusted partner that is recognized for its investment and operational experience, including particular expertise in the consumer products and services, food and beverage, industrial, packaging, chemical, building products, automotive, restaurant and retail sectors. Since 1995, affiliates of Sun Capital have invested in more than 320 companies worldwide across a broad range of industries and transaction structures. Further information on Sun is available at www.SunCapPart.com
In Germany, Sun’s current portfolio consists, among others, of the German facilities of world leading packaging companies Albéa and Coveris which includes the German businesses formerly known as Kobusch-Sengewald, Paccor and Britton Reuther.
Source: Sun Capital Partners Press Release