Bancroft et al. sell Standard Profil
A consortium led by Bancroft Private Equity has fully exited its investment in Standard Profil, a Turkish rubber profile and weather-strip producer for the automotive industry, to Ruia Group.
The value of the deal has not been disclosed.
Bancroft's sale of Standard Profil sees Ruia Group, an Indian industrial conglomerate, take steps towards consolidating the automotive sealing industry.
Previous funding
Bancroft Private Equity, Garanti Bank and International Finance Corporation acquired Standard Profil in September 2006.
A return on investment has not been disclosed.
Company
Standard Profil was established in 1977 and is a rubber profile and weather-strip manufacturer for European and Turkish car manufacturers. The company has manufacturing locations in Turkey and Bulgaria.
In 2010 the company recorded sales of €180m.
People
Tamas Szalai is partner at Bancroft.
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