Livingstone’s Industrial sector team has advised Saint-Gobain Deutsche Glas GmbH on the sale of Glas Funke GmbH to a private investor. Financial terms of the transaction were not disclosed.
Glas Funke has about 60 employees and was part of the Saint-Gobain group until the time of sale. As one of Europe’s leading manufacturers of curved and flat tempered safety glass, the company is essentially acting as a provider to suppliers of OEM system showers and individual shower solutions. Over the past few years, Glas Funke established itself in the relevant market through innovative designs and above-average quality standards.
The management of Saint-Gobain has decided to focus its business activities on finding an investor with industry know-how and a long-term perspective for the site. These requirements were met by a private investor, whose concept emerged as the most promising one in the M&A process. Through targeted new investments, an adjustment of the strategic focus and an expansion of the product and service portfolio, Glas Funke will continue to strengthen its position in the coming years and develop in the line with the prevailing market trends.
“The investor’s concept convinced us in terms of strategy and sustainability across the board. Therefore we are confident that we have given Glas Funke into worthy hands,” commented Jürgen Peitz, CEO of Saint-Gobain Deutsche Glas GmbH. “We would also like to thank everyone involved in the process.”
“We were very pleased to be able to support Saint-Gobain in this transaction and, in particular, it was interesting to see that new operational-strategic options for the future have emerged during the process.” said Dr. André Schröer, Partner at Livingstone in Dusseldorf, and Christian Garbe, Associate Director at Livingstone, adds: “This should provide a solid foundation for further development in a challenging market.”