HIG buys Beinbauer from Orlando

Oscar Geen
16 January 2018

Tweet
Facebook
LinkedIn
Google plus
Send to

HIG Capital has acquired German automotive supplier Beinbauer Group from Orlando Management.

Beinbauer was first put up for sale by Orlando in January 2017 with Clearwater International running the process, according to unquote" sister publication Mergermarket. At this stage, the company reported EBITDA of €16m from €180m in revenues.

The company now has revenues of more than €200m and employs 700 people, according to a statement.

The firm's management team, led by Tobias Lührig and Patric Meeth, will continue to lead the group.

HIG will support Beinbauer's further growth strategy by organic initiatives as well as strategic acquisitions.

The GP drew capital from HIG Europe Capital Partners II, an €825m buyout vehicle that held a final close in July 2013 and was 40% deployed by the end of 2016.

Previous funding
Orlando acquired Beinbauer from industrial holding company Drosten Group in 2012. It merged the company with Wagner Automotive, which it acquired a year later.

Company
Founded in 1978 and headquartered in Passau, Beinbauer is a provider of machined metal parts to the automotive industry. It also provides supply network management services to its clients. It has four production sites in Germany and employs 700 people.

People
HIG Europe – Wolfgang Biedermann (managing director).
Beinbauer Group – Tobias Lührig, Patric Meeth (managing directors).

Advisers
Vendor – Clearwater International (corporate finance).
Equity – Freshfields (legal); PwC (financial due diligence); McKinsey & Co (commercial due diligence); GCA Altium (debt advisory).