Gilde acquires AXA Stenman

On Thursday 15 May Gilde Buy Out Partners acquired AXA Stenman. AXA operates two separate divisions, active in the home and bike product market. AXA Home Security manufactures and sells a broad range of building hardware such as hinges & locks for the professional market, with sales predominantly in the Netherlands, Poland and Germany. AXA Home Security is well known for its high quality window casement stays and door fittings. AXA Bike Security manufactures and sells bicycle locks, bike lighting and chain guards in over 10 countries. The company has production facilities in Veenendaal (The Netherlands), France and Poland, and operates various sales offices throughout Europe. AXA Bike Security is specifically known for its rock-solid AXA Defender frame lock as well as the AXA bike lighting.

Until 2004 Axa was listed on the Dutch stock exchange. From 2007 onwards AXA was owned by Bencis Capital Partners, an Amsterdam based private equity fund. In 2013 Axa underwent a restructuring process, which was led by the newly appointed management team. The restructuring focused on the replacement of international managers, repositioning of the individual business units, restructuring of the product portfolio and reorganization of the workforce. In addition, various business processes have been improved. Today, the business is growing again and financially sound.

Gilde is a reputable private equity fund based in Utrecht and known for amongst others shareholdings in HG (cleaning products) and Roompot (holiday homes). Prior to the listing, from 1991 to 1998, Gilde was also a shareholder of AXA. Gilde is familiar with the strength of AXA and is prepared to support its new strategy. The strategy focuses on growth and continued international expansion. The growth will be fuelled by creative entrepreneurship, expansion of the product portfolio and the repositioning of the AXA quality brand name.

The recently installed management team consists of Harry Smeets (CEO) and Huib Knulst (CFO). The managers were appointed early 2013 and have committed themselves to stay on board as management of AXA.

Harry Smeets comments:

“Yes, we are very pleased with Gilde as the new shareholder, because they will support the growth of our business. The AXA brand has unmatched potential, which we are ready to unlock”.

For more information:
drs. H.C. Smeets, CEO AXA Stenman Group BV
Please contact Christa Janzen: tel +31 318- 536 303 or email cjanzen@axa-stenman.com