POLYTEC GROUP
Principal shareholder Capvis acquires Findlay Europa / Merger planned / Further expansion
Automotive supplier Polytec Group (A-4063 Hörsching; www.polytec-group.com), currently engaged in an expansion drive, has completed a further step en route to its goal of seeing its sales top the EUR 1 bn mark. Swiss private equity group CapVis Equity Partners (CH-8098 Zürich; www.capvis.com), which has a majority holding in Polytec, has acquired all the European activities of US automotive sup- plier Findlay Industries (Findlay, Ohio; www.findlayindustries.com) for an undisclosed sum. The deal includes four facilities in Germany and one each in Poland, the UK and Spain. Findlay Europa (D-82538 Geretsried), with 1,050 employees and sales of some EUR 240m, had sales of EUR 270m from production of door trim, boot liners, car headli-ners and seat backs. It is to be merged with the Polytec Group following regulatory approval of the acquisition.
24.06.2004 Plasteurope.com [200323]
Published on 24.06.2004