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Global Alternative Asset Manager The Carlyle Group has agreed to acquire a controlling interest in KAP Beteiligungs-AG (KAP), a publicly listed, diversified German industrial holding company with a number of portfolio companies in distinct industries. Carlyle will acquire a 53% majority stake in KAP. Equity for the transaction will come from Carlyle Strategic Partners IV L.P., Carlyle’s Special Situations & Corporate Opportunities fund.
goetzpartners acting as exlusive financial adviser to the sellers has successfully managed a complex sales process aiming at finding a new lead investor with a clear future strategy while maintaining KAP's publicly listed industrial holding structure leveraging the platform's full value as well as profit potential and aligning interests with KAP's existing anchor investor FM Verwaltung.
Ian Jackson, Managing Director of Carlyle Strategic Partners, said: “KAP is a high quality industrial conglomerate with international presence, a strong manufacturing base and extensive manufacturing expertise, especially in the fields of plastic extrusion, metal works and specialty textiles. We are excited to partner with KAP’s experienced management team to realise the significant value creation opportunities, both organically as well as through acquisitions in the German Mittelstand.”
Dr. Stefan Geyler, Speaker of the Management Board of KAP, said: “KAP has a strong track record of successfully developing and growing its subsidiary companies into leaders in their respective industries. We look forward to working with Carlyle to continue to grow the business further as we leverage Carlyle’s global network, its extensive experience and expertise in the industrial and manufacturing sectors.”
The transaction is subject to approval by the relevant antitrust authorities, and is expected to close by the end of 2016.