AXA Private Equity has sold Gealan, which makes PVC windows, to Halder. Financial terms weren’t announced. Halder, of Germany, invests in the middle market.
After a six-year holding period, AXA Private Equity, the leading European diversified private equity firm, has sold its shares in Gealan Beteiligungs GmbH to Halder. Management as well as members of the company’s advisory board will retain their shares.
For its part, GEALAN’s management has gained a strong and highly experienced partner in Halder, a partner with whom GEALAN can continue its strategy for growth – based upon a solid business model with innovative products and the company’s pool of employees.
Halder’s decision to purchase the shares was motivated by the strong confidence in GEALAN’s management as well as the company’s prospects for the future thanks to the recently introduced innovative STV® und IKD® products.
After being taken over by AXA Private Equity, GEALAN’s turnover increased by almost 50% to 220 million Euros in 2010, mainly due to international expansion. It was this increase in turnover that helped AXA Private Equity to guide the GEALAN group steadily through the 2008 and 2009 crisis years, hand-in-hand with GEALAN management. With Halder as its new investor, the direction taken by GEALAN over the past few years can be successfully pursued.
ABOUT AXA PRIVATE EQUITY
AXA Private Equity is a leading private equity firm with managed assets of USD 25 billion and an international reach across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.
With offices in Paris, Frankfurt, New York, Singapore, Milan, London, Zurich and Vienna, AXA Private Equity supports the development and long-term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.
AXA Private Equity, Global Investments the European way
Based in the Franconia region of Germany, the GEALAN group is one of the leading manufacturers of PVC window profiles and, with a yearly turnover of 220 million Euros and 1,200 employees, is one of the most important German suppliers in this market. The company is a leader in innovation and quality and is well-known for technical, high-grade window frames with weatherproof, coloured acrylic glass coatings. GEALAN has a strong position in the European market and plans to expand on this in the coming years through further investments.