Rosti Group, which is backed by Swedish investment group Nordstjernan, said Wednesday it has agreed to buy Boog B.V. and the Bianor group of companies. The seller is Nimbus Investments. Financial terms weren’t announced. Bianor, of Poland, is an injection moulder and assembly-solutions provider.
MALMÖ, Sweden, July 8, 2015 /PRNewswire/ —
Rosti Group today announces signing of an agreement regarding the acquisition of 100% of the shares in the Dutch holding company Boog B.V., and indirectly the Bianor group of companies (Bianor), from the Dutch-German based private equity company, Nimbus Investments. Bianor is an injection moulder and assembly-solutions provider to the major OEMs within the small household appliances, electrical goods and safety accessories sectors.
Bianor was founded in 1997 as a Polish-Dutch joint venture in Bialystok, north east of Warsaw, Poland. Bianor has since developed a state of the art factory in Bialystok (2012) and a second facility in Ploiesti,Romania, 60 km outside Bucharest (2013). Combined, the two facilities offer 20,000 square meters footprint of modern manufacturing capacity, plus an additional 12,000 square meters of warehousing space. Bianor has in excess of 80 injection moulding machines ranging from 50 to 1,200 ton clamping force.
Bianor will be incorporated into the European division of the Rosti Group, led by Executive VP and Deputy CEO Mr Barry Coughlan, who commented, “We are delighted with the acquisition of Bianor. This will enhance our capacity, capability, customer base and geographic positioning, giving Rosti the opportunity to support additional customers within our global footprint. Bianor has an excellent culture, a skilled and dedicated workforce, modern facilities and a reputation for innovation and continuous improvement. All complimenting the ‘Rosti Way’ of operating.”
Mr Edwin Puijpe of Nimbus Investments, a hands on investor with offices in the Netherlands and Germany, added, “Together with local management, we have worked hard over the last eight years to bring Bianor to where it is today. In this period we have invested in two brand new factories. The customer base has been increased from three to more than fifteen OEM customers, all with leading positions in their sector. We are very proud of what has been achieved through the dedicated management team and workforce, which we like to thank for that. We are confident that Bianor will continue to grow and develop under the Rosti leadership.”
Borje Vernet, CEO of the Rosti Group, commented, “Having achieved our 2014 sales target of 400 MEUR, which corresponds to a doubling of sales since 2011, we are now focusing on our new financial targets, including a new sales target of 900 MEUR by end of the decade. The acquisition of Bianor is a significant and strategic step in this plan and it will introduce Rosti to a number of market leading OEMs. With Rosti facilities in the United Kingdom, Germany, Sweden, Poland and Turkey and, following the acquisition of Bianor, also inRomania, we have excellent coverage in Europe which is a good complement to our highly successful businesses in China and Malaysia. With our dedication to customer care and our aim to always exceed our customers’ expectations, supported by a targeted investment plan, we are confident that we can continue to serve our customers in a professional way.”
The transaction is expected to close in the third quarter of 2015, subject to necessary approval by the Polish Office for Competition and Consumer Protection.
Rosti Group is a global plastics injection moulding company and subcontract manufacturer to the Automotive, Packaging, Consumer & Professional Appliances, Business Machines, and Life Sciences markets. Rosti has 10 manufacturing facilities, located in the UK, Sweden, Germany, Poland, Turkey, Chinaand Malaysia, with accreditation in ISO9000/1/2, ISO 13485, TS16949, FDA/IMS, BRC/IoP, ISO 14001, OSHAS 18001 (H, S+E) and many other world manufacturing standards, with a combined turnover of 450 MEUR and 3,400 employees and over 550 moulding machines, ranging from 25T to 2700T. Rosti is owned by the Swedish investment group Nordstjernan. For further information, please visit http://www.rosti.com andhttp://www.nordstjernan.se.
Nimbus is an investment company which invests and actively supports its subsidiaries in realising improvement potential. Nimbus holds majority stakes in approximately 30 companies in North Western Europe with an aggregated revenue of more than EUR 1.5 billion. For further information, please visit:http://www.nimbus.com
SOURCE Rosti Group