The Livingstone Special Situations team has advised Saint-Gobain Deutsche Glas GmbH on the divestment of seven operating locations to DIK Deutsche Industriekapital GmbH. Terms of the transaction are undisclosed.
With 2019 consolidated revenues of approximately EUR 45m; as part of its strategic repositioning, Saint-Gobain’s management opted for a structured sale process supported by Livingstone to identify long-term investors to continue operations. The concepts and restructuring measures of DIK Deutsche Industriekapital GmbH proved to be the most suitable to create a long-term solution for the locations in Bremen, Flensburg, Freiburg, Kiel, Murr, Potsdam and Rostock, and their employees.
The seven locations will now operate as the newly established CALEOGLAS Group, employing a total of 350 people. The company specializes in the processing of flat glass with a focus on single-pane safety glass, laminated safety glass, and insulating glass. Applications include both the interior (e.g., glass showers, glass stairs, glass tiles, and wall coverings, partition walls, and doors) and the exterior (e.g., facades, parapets, and railings) of buildings. In recent years, the Group has expanded into the market by launching new product innovations such as textured, walkable, and switchable glass, and above-average quality standards.
“We would like to thank all parties involved in the M&A process for their intense and effective cooperation, commented Christian Bako, Managing Director at Saint-Gobain Glassolutions who managed the sale process. He continued, “Based on the measures and concepts presented, we believe DIK Deutsche Industriekapital GmbH is the right buyer.”
“As an investment company focusing on companies with development potential, the acquisition of these seven sites is an excellent start to 2020,” commented Erik Theilig, Managing Director at DIK Deutsche Industriekapital GmbH.
“We are delighted the shareholders and management of Saint-Gobain Deutsche Glas GmbH once again placed their trust in us to advise them on this carve-out. Identifying a long-term entrepreneurial investor with an affinity for industry, who has the potential and know-how to establish the locations on the market, was a fascinating task. We found them the right partner in DIK Deutsche Industriekapital GmbH. The process has been gratifying, and we would like to thank the management of Saint-Gobain for their trust and the great teamwork,” commented Dr. André Schröer, Partner at Livingstone in Düsseldorf.
Livingstone advised Saint-Gobain on the sale of Glas Funke GmbH in June 2019, marking this successful transaction the second project with Saint-Gobain in less than 12 months.