Towerbrook carves out Schweighofer Fiber

Towerbrook draws equity from TowerBrook Investors IV, a $3.5bn fund that closed on its hard-cap in 2013 and is currently deployed at more than 30%, according to a source close to the situation.

Jörg Harbring has been managing director of the company for 13 years and will become the CEO under Towerbrook's ownership.

Schweighofer Group describes the sale as strategic and will focus on its core business of wood processing. The group employs 3,500 people in 70 countries.

Towerbrook has completed four carve-outs of similar size in the DACH region, including Cablecom, Monier Group, Odlo Sports and Polymerlatex.

Company
Schweighofer Fiber employs 240 people and is based in Hallein, near Salzburg. It produces pulp and bio-energy from renewable sources and reported a turnover of €143m for 2016.

People
Towerbrook Capital Partners – Ramez Sousou (co-CEO).
Schweighofer Fiber – Jörg Harbring (CEO).

Advisers
Equity – McKinsey (commercial due diligence); EY (financial due diligence, tax); Sidley (legal); CMS (legal); Alvarez & Marsal (operational due diligence); Haggblom (technical due diligence).
Company – Schoenherr (legal); BDO (financial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Towerbrook Capital Partners