
KBC exits Dynaco
KBC Private Equity has sold door-manufacturer Dynaco to Assa Abloy in a deal valued at €75-125m.
The transaction is part of KBC Bank's divestment strategy to refocus the bank under requirements of the European Commission. The bank had received a capital injection from the Belgian government in 2008. The deal is expected to close during the first half of 2012.
Previous funding
KBC first invested in Dynaco in July 2007. The initial investment was less than €25m.
Company
Dynaco is a producer and supplier of high-speed doors. The company is headquartered in Moorsel, Belgium, and employs 140 staff. In 2012, Dynaco's sales are expected to reach €51m. It is active in around 60 countries.
People
Floris Vansina, managing director, led the transaction on behalf of KBC. Dirk Wouters is CEO of Dynaco.
Advisers
Vendor – KBC Securities (Corporate finance); Baker & MacKenzie (Legal); Ernst & Young (Financial due diligence, tax).
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