Naxicap acquires Alwitra

Alwitra's management team will remain in place. The company's former owner, Joachim Gussner, who acquired Alwitra from its founder in 1992, will continue in an advisory capacity.

Naxicap acquired French tar roof covering manufacturer Onduline in 2017. Onduline operates in more than 100 countries and the GP aims to use this international platform to grow Alwitra's presence in markets beyond Germany.

Unquote understands that Alwitra had been looking for a buyer for some time and that Naxicap was chosen due to its market experience with Onduline.

Naxicap commits tickets of €20-200m per transaction for companies with an enterprise value of €50-500m. The GP opened an office in Frankfurt in 2018 and it recently invested in Germany when it participated in the €5.2m series-A for Open as App, a Munich-based coding business.

Company
Alwitra has facilities in Trier and Hermeskeil and was founded in 1964. It has 300 employees and a turnover of approximately €80m.

The company provides flat roofing products, including thermo-plastic roofing and sealing membranes, for projects in the private and public sectors. Projects that Alwitra has worked on range from Volkswagen's Transparent Factory in Dresden to the Singapore Esplanade.

People
Naxicap Partners – Peter Pergovacz (managing director).
Alwitra – Joachim Gussner (owner).

Advisers
Equity – Accuracy (corporate finance); Morgan Lewis (legal); Watson Farley & Williams (tax); Roland Berger & Partners (commercial due diligence); TAUW (environmental due diligence).
Vendor – Industrie Consult (corporate finance); Beiten Burkhardt (legal).

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