Livingstone advises leading international company Neschen AG on sale to Blue Cap AG

  • Dec 2016
  • Industrial
  • M&A: Sell-Side
  • Special Situations
  • Germany
  • PUBLIC COMPANY SALE
  • RESTRUCTURING

Livingstone’s Distressed Team Düsseldorf is pleased to announce the successful sale of Neschen AG, a leading international supplier of modern self-adhesive products and high-quality coated media for a wide range of applications in the areas of graphics, documents and industrial applications to a subsidiary of the listed investment company Blue Cap AG.

Neschen AG is headquartered in Bückeburg and has been a manufacturer and distributor of adhesive-coated products for the printing and advertising industry for over 125 years. The product portfolio in the graphics sector ranges from finishing, protective and adhesive films to printable media, which can be used with state-of-the-art digital printing techniques for avant-garde architecture, decorations and advertising. The Company is the first address for printing service providers as well as for architects, designers, photographers, interior designers and advertising studios. Neschen is renowned for its Filmolux products. Fimolux operates its European distribution companies.

With more than 300 employees, Neschen Group generates a turnover of approximately EUR 60 m., more than EUR 35 m. in Germany. The acquisition will boost the growth of Blue Cap AG significantly. Neschen AG filed for insolvency in April 2015 because of a dispute with a hedge fund and was advised and supported by FelbierMall GmbH under the administration of Arndt Geiwitz, Neu-Ulm.

In August 2015, the company mandated Livingstone to carry out a structured M&A process with the aim of finding bets possible investor. As part of the investment approach, Livingstone approached selected potential national and international investors. In the end Blue Cap AG’s offer proved to be the best strategic fit.

Blue Cap is thus expanding its Planatol and BIOLINK investments by adding other adhesives subsidiaries. There are a number of synergies between the companies in the area of adhesive production, the further processing of adhesives and the international distribution of the products.


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Key Transaction Team

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