Aurora's Alltub takes over Karl Höll

The combined group will have annual sales of €150m and 650 customers globally. Oliver Höll, currently managing partner of Karl Höll, became CEO of Alltub at the start of September.

Karl Höll went into self-administered insolvency in 2014, which ended in June 2015. During the process the business laid off 134 people. The acquisition by Alltub was initiated after the restructuring process at the end of 2015. Its products will continue to be marketed under the Höll brand for the time being, but incorporated under the Alltub brand at some point in the future. No layoffs on either side will follow as a result of the acquisition.

Of Höll's customers, 95% are from the pharma industry. Alltub hopes this focus will strengthen its business in the sector and that the combined group will expand its product offering across all segments.

Aurora's mid-market focused subsidiary, Aurora Resurgence, is located in Los Angeles and presently invests from its second fund, which has commitments of $550m.

Previous funding
In July 2015, Partners Group provided a €74m unitranche financing to Alltub. The funding supported the refinancing of the company.

Aurora acquired Alltub from Naxicap in a transaction reportedly worth €55m in January 2012. Naxicap acquired Alltub from 21 Centrale Partners in 2007, alongside the company's management.

Companies
Founded in 1884 and based in Langenfeld, Karl Höll produces aluminium and laminate tubes for the pharmaceutical, food and cosmetics industries. The business employs 187 people at two manufacturing sites in Germany and has a turnover of €50m.

Founded in 1950 and based in Boulogne, Alltub is a manufacturer of collapsible aluminium tubes for the packaging of pharmaceuticals, cosmetics, foodstuffs and industrial products. The business has 1,200 employees and four manufacturing plants in France, Italy, the Czech Republic and Mexico.

People
Aurora Resurgence – Steve Smith (managing partner).
Alltub/Karl Höll – Oliver Höll (managing partner).

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• Topics
• DACH
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