Alpina partially exits Dolan

Alpina (then Wheb Partners) acquired Dolan and ECF in the same holding company in April 2015, drawing equity from its €140m growth capital vehicle, Alpina Partners Fund (formerly Green Growth Fund 2).

The sale is also a partial exit for Jan Verdenhalven, a chemical industry veteran who was brought into the original transaction by Alpina.

At the time of the original buyout, Dolan generated revenues of €57.5m and ECF generated sales worth €10.4m.

Acquirer Solvay generated €2.1bn in EBITDA from a turnover of €10.9bn in 2016. It said the acquisition of ECF enables Solvay to develop a portfolio of large-tow carbon fibres to complement its existing range.

Company
ECF was founded in 1935 and is headquartered in Kelheim. It produces a precursor chemical for high-quality polyacrylonitrile-based carbon fibres. It generated sales of €10.4m in 2014, the last year for which figures are publicly available.

People
Alpina Partners – Florian Strehle (partner).
Dolan – Jan Verdenhalven (managing director).

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• Topics
• Exits
• DACH
• Industrials
• Germany
• Partial sale
• Trade sale