Gilde acquires Axa-Stenman

Axa-Stenman has a lengthy history with private equity. According to unquote" data, the company was first acquired by Silverfleet Capital in December 1991 before being sold to Gilde Investment Management for €3.55m in August 1996.

Gilde then floated the business on the Amsterdam Stock Exchange in March 1998. Five years later, Friesland Bank Investments launched a public offer to take Axa-Stenman private for €33m. The offer comprised a €9m equity investment from Friesland and a €24m debt package provided by Fortis Bank, according to unquote" data.

Bencis Capital Partners acquired the business from Friesland in August 2007. At the time of the acquisition, Axa-Stenman generated €60m in revenues and employed 475 staff. The business was restructured last year under a newly appointed management team.

Company
Founded in 1902, Axa-Stenman is headquartered in Veenendaal with additional offices in Germany, France, Poland, Italy, China, Japan and the US.

The company operates two divisions: Axa Home Security, which manufactures hardware for windows and doors such as electronic locks and hinges; and Axa Bike Security, which manufactures bicycle frame locks, lights and chain guards.

People
Harry Smeets is the CEO of Axa-Stenman, having recently taken up the post to lead the company's restructuring process last year.

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• Topics
• Benelux
• Buyouts
• Consumer
• Netherlands
• Gilde Buy Out Partners
• Silverfleet Capital
• Gilde Investment Management
• Friesland Bank Investments