The shareholders of ALT Technologies, the private equity firm Standard Investment and management have sold the company to Gimv, a listed Belgian investment company.
ALT Technologies, founded in 1998, is the leading global manufacturer of covers, wraps and seals for airbag systems, as well as labels for the automotive and durable goods industries. ALT Technologies supplies its products to all major car brands worldwide. The company has obtained significant market shares in its primary product groups in Europe and has rapidly expanded its presence in key global automotive markets in recent years, after establishing a plant in China and a sales office and warehouse in the USA.
Gimv is a European investment company with over three decades of experience in private equity and venture capital. Gimv is listed on Euronext Brussels. The firm currently manages around US$1.8 billion – including co-investment partnerships – of investments in around 50 portfolio companies.
Standard Investment is a private equity firm focused on small and medium-sized enterprises headquartered in the Netherlands and Belgium. The firm is actively involved in the management of its 13 portfolio companies and closes deals with an equity ticket of up to US$15 million.
Oaklins' team in the Netherlands acted as advisor to the seller in this transaction. The team identified a large group of both strategic and financial buyers, which were approached by local Oaklins member firms. Oaklins' Dutch team executed a highly competitive process that involved numerous buyers up until the final offers and resulted in a premium valuation. The team had previously advised ALT Technologies on its sale to Standard Investment in 2011.
Jean-Luc Verstraeten, CEO at ALT Technologies, said: “Based on its extensive automotive track record and ability to sell private equity-owned companies, we decided once again to mandate the Dutch team to guide the sale process of ALT Technologies. Just as they did six years ago, they showed persistence in exploring all options for the company and skillfully balanced all stakeholders’ interests to complete an outstanding transaction.”
Guido Grobbink, Partner at Standard Investment, said: “The outcome of the sale process managed by Oaklins' team exceeded our expectations. They succeeded in perfectly positioning and describing the proposition. Together with a well-structured and highly competitive process, the team was able to achieve a premium valuation.”
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