Gimv takes majority stake in ALT Technologies

ALT's management, led by CEO Jean-Luc Verstraeten, is investing alongside Gimv, and will hold the balance of the capital. Standard Investment had been majority shareholder in the group since 2011.

Gimv will back the company through its "smart industries" team, which works across all industrial sectors in companies looking to convert to sustainable technology, helping them develop new equipment, software and services.

Gimv has a track record of investing in the automotive industry, with previous portfolio companies including VCST, Punch Powertrain, Mackevision and Arplas. The GP typically invests between €5-50m in Benelux-, France- and DACH-based groups with an enterprise value of up to €200m.

With the fresh capital, the group plans to grow internationally over the next few years, in the US and Asia particularly.

Previous funding
In March 2011, Standard Investment acquired a majority stake in ALT from Dutch company JL Verstraeten. The GP took a 60% stake, while the management held a 40% stake in the company.

Company
Created in 1935 and headquartered in Utrecht, the Netherlands, ALT is a producer of airbag components with a focus on covers, wraps and seals. In addition, the group produces labels for cars and electronic equipment.

While its head offices are based in the Netherlands, ALT has additional factories in Romania and China, and a sales office in the US. The group employs 330 people at present.

People
Gimv – Sander van Vreumingen (partner).
ALT Technologies – Jean-Luc Verstraeten (CEO).
Standard Investment – Guido Grobbink (partner).

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• Topics
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• Secondary buyout