Sun European Partners GmbH (together with its affiliates “Sun”), a leading private investment advisory firm specialising in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has 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.”
Contact:
Fergus Wheeler
FTI Consulting
Tel: +44 (0) 20 3727 1522