Gilde Buy-Out Fund II sells Plastal to Nordic Capital

Gilde Buy-Out Fund II, managed by Gilde Investment Management, has today signed an agreement to sell Plastal to Nordic Capital Fund V. Plastal is a leading supplier of bumpers, plastic interior parts and decorative trim to the European automotive industry, with a strong market position in the premium car and light truck segment. Plastal achieved revenues of approximately SEK 3,800 million in 2003 and had approximately 2,100 employees at the end of 2003. Nordic Capital will own a majority of the company with management of Plastal holding a minority shareholding. Plastal's CEO, Christer Palm, will continue as CEO of the company.

Plastal is headquartered in Kungälv, Sweden and has production sites in 7 countries - Belgium, Germany, Italy (2), Norway, Poland, Spain and Sweden (3).

Paul Bekx, Partner at Gilde Investment Management, commented:

"Since the time of our acquisition in 2001, together with Plastal's highly experienced management team, the company has successfully grown into a truly stand-alone business and thereby becoming one of Europe's leading and well regarded plastics supplier to the premium car and light truck segment. We believe Plastal is now ready for the next phase of its growth path on the European market. We wish Nordic Capital and the management team all the best in realizing their future goals."

Christer Palm, CEO of Plastal, commented:

"We have had a rewarding three-and-a-half-year relationship with Gilde. We are pleased that the deal with Nordic Capital has been finalized, and with Nordic Capital as new owners I see great opportunities for further development and expansion of Plastal. Our relationship with Nordic Capital has deepened during the due diligence process and given Nordic Capital's successful track record, we are confident of their commitment to invest in and grow Plastal going forward. Clear, long-term ambitions and vision will benefit our customers and employees alike. Nordic Capital will doubtless help us to realize our goals and we are delighted to have their support."

The transaction is expected to close in February 2005 with completion subject to regulatory approvals.

Contacts

  • Paul Bekx, Partner, Gilde Investment Management, +33 1 4451 1578
  • Christer Palm, CEO, Plastal, +46 303 24 67 70

Gilde Investment Management

Gilde Investment Management, with offices in Utrecht (The Netherlands), Paris (France) and Zürich (Switzerland), has invested in more than 150 companies since its inception in 1982. Gilde is a leading Dutch private equity firm with €1.7 billion under management, divided among four dedicated investment funds. With a fund size of €535 million, Gilde Buy-Out Fund II is committed to be a pan-European mid market buy-out fund with a focus on France, the Benelux as well as the German speaking region as evidenced by our track record in these countries. Recent buy-out investments in Continental Europe include OEM, Norit, Stokvis Tapes, Drie Mollen, Armacell and Soudronic.

For more information about Gilde Investment Management please visit www.gilde.nl

Plastal

Plastal is a leading supplier of engineered plastics to the European automotive industry.

For more information about Plastal please visit www.plastal.com