Enterprise Investors sells NordGlass to AGC Automotive for €80m
Polish private equity firm Enterprise Investors has fully sold its stake in NordGlass, a Polish windscreen manufacturer, to trade buyer AGC Automotive Europe in a deal valuing the business at €80m.
The Polish Enterprise Fund VI vehicle had wholly acquired NordGlass in 2007.
Under the GP's tenure, the business invested in modernising and expanding its production facilities, as well as increasing its product range. The company now produces glass panes for trains and glazing for ships and yachts, in addition to its core automotive products.
NordGlass has also undertaken an international expansion strategy across Europe since its acquisition by Enterprise.
The transaction comes around five months after Enterprise partially exited asset management business Skarbiec through an IPO on the Warsaw Stock Exchange.
Company
Founded in 1991 and headquartered in Koszalin, Nordglass is a windscreen producer. The company has a headcount of 1,100 and generated a turnover of €78m in 2014. When Enterprise first invested, the business employed a team of 700 and had an EBITDA of €6.5m.
People
Jacek Woźniak is a partner at Enterprise Investors.
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