Carlyle buys Klenk Holz

The investment was made via the Carlyle Strategic Partners I, II and III funds, which hold more than $2bn in total.

The investment comes less than a month after Carlyle first set sights on the firm. Special situation manager Orlando Management was also reported to be eyeing Klenk Holz.

It is Carlyle's second investment in Germany this month after buying Alloheim Senioren-Residenzen from Star Capital for €180m on 15 August.

It is understood that Klenk Holz sought private equity backing as it battles against rising wood prices and increased competition from the Nordic market.

Company
Klenk Holz was founded in 1904 by the Klenk family. The firm's headquarters and main plant are in Oberrot. It has further plants in Baruth and Wolfegg.

The firm produces and delivers sawn and pressure-treated timber, edge-glued panels, DIY products, construction timber, laminated timber, formwork beams and panels to DIY stores and industrial firms. 

Klenk Holz reported annual sales of €387m and employs 1,250 people. The firm exports 40% of its products.

People
Günter Hegemann is CEO at Klenk Holz. Ian Jackson is managing director at Carlyle's London office.

Advisers
Equity – Latham & Watkins (Legal).

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• Topics
• DACH
• Industrials
• Buyouts
• Germany
• Carlyle Group