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Paine & Partners to acquire Stabilus from Montagu Private Equity
Montagu Private Equity, one of Europe’s leading private equity
companies, plans to divest Stabilus, a manufacturer of gas springs,
to funds managed by Paine & Partners, LLC, the San Francisco
and New York-based private equity firm. The transaction, which is
subject to antitrust approval, is expected to close in April 2008.
Terms of the transaction were not disclosed.
Stabilus GmbH, headquartered in Koblenz, develops, produces and distributes gas springs, hydraulic vibration dampers, hydraulic doorstays and automatic opening and closing systems for doors, trunk lids and tailgates. Stabilus operates with a global reach and has a workforce of approximately 3,300 employees worldwide, of which 1,600 are based in Germany. Stabilus has 11 production sites in 11 countries on five continents. Its customers include leading carmakers and industrial enterprises, such as manufacturers of agricultural machinery, household appliances and office furniture.
The Montagu funds acquired Stabilus from Demag Holding following a management buy-out in 2004. Since its acquisition by Montagu, Stabilus has reported substantial growth. It has repositioned its production network, with expanded production facilities and new factories.
Udo Wendland, Chief Executive Officer of Stabilus, said: “During the past three and a half years Montagu has been a valued partner and has supported our significant international expansion and the achievement of our growth objectives. We are excited to continue this successful trajectory with our new partners at Paine & Partners. We have a shared vision for how to further strengthen our global leading core business and target complementary new growth initiatives.”
Nico Helling, Director of Montagu Private Equity in Germany, added: “Stabilus was a highly encouraging investment for the Montagu funds. We are convinced that the business will continue to see outstanding development under the stewardship of its future owners. As in the past, we believe Stabilus has strong potential, and we would like to wish the management team and the company’s employees all the best and every success for the future.”
Kevin Schwartz, a founding partner of Paine & Partners, said, “We are pleased to have become a partner to the Stabilus management and employee teams who, together with Montagu, have built a solid business foundation. Stabilus has a well-established reputation and heritage in the manufacturing segments in which it operates and compelling future prospects. We look forward to helping Stabilus continue to grow and to create new opportunities for its business, its employees and customers worldwide.”
Stabilus GmbH, headquartered in Koblenz, develops, produces and distributes gas springs, hydraulic vibration dampers, hydraulic doorstays and automatic opening and closing systems for doors, trunk lids and tailgates. Stabilus operates with a global reach and has a workforce of approximately 3,300 employees worldwide, of which 1,600 are based in Germany. Stabilus has 11 production sites in 11 countries on five continents. Its customers include leading carmakers and industrial enterprises, such as manufacturers of agricultural machinery, household appliances and office furniture.
The Montagu funds acquired Stabilus from Demag Holding following a management buy-out in 2004. Since its acquisition by Montagu, Stabilus has reported substantial growth. It has repositioned its production network, with expanded production facilities and new factories.
Udo Wendland, Chief Executive Officer of Stabilus, said: “During the past three and a half years Montagu has been a valued partner and has supported our significant international expansion and the achievement of our growth objectives. We are excited to continue this successful trajectory with our new partners at Paine & Partners. We have a shared vision for how to further strengthen our global leading core business and target complementary new growth initiatives.”
Nico Helling, Director of Montagu Private Equity in Germany, added: “Stabilus was a highly encouraging investment for the Montagu funds. We are convinced that the business will continue to see outstanding development under the stewardship of its future owners. As in the past, we believe Stabilus has strong potential, and we would like to wish the management team and the company’s employees all the best and every success for the future.”
Kevin Schwartz, a founding partner of Paine & Partners, said, “We are pleased to have become a partner to the Stabilus management and employee teams who, together with Montagu, have built a solid business foundation. Stabilus has a well-established reputation and heritage in the manufacturing segments in which it operates and compelling future prospects. We look forward to helping Stabilus continue to grow and to create new opportunities for its business, its employees and customers worldwide.”