Hannover acquires minority stake in Biesterfeld

Hannover Finanz operates eight evergreen funds, which invest both in traditional industries and new technologies. It conducts mainly growth capital investments and succession planning operations in Mittelstand companies with revenues of at least €20m. It also commits capital as part of a silent partnership.

Previous funding
Hannover Finanz backed Biesterfeld in the form of a silent partnership in January 2011. The investment was used to expand the company, which had been known to the private equity house for several years.

Funding came from the GP's eighth and 10th vehicles.

Company
Founded in 1906, Biesterfeld Vermögensverwaltung operates from 50 locations in Europe, the US, South America and Asia. The family-owned business has three divisions: Biesterfeld Plastic, Biesterfeld Spezialchemie and Biesterfeld International. Its yearly revenues exceed €1bn.

Hamburg-based Biesterfeld Spezialchemie was founded in 1998 and distributes speciality chemicals, including food ingredients. Spezialchemie operates from 19 locations in 17 European countries and has 250 employees. It has yearly revenue of €202m and approximately 6,000 customers.

Biesterfeld Plastic was established in 1988 and is based in Hamburg. The company distributes engineering polymers, standard polymers, acrylates, polyesters and performance rubber. Its customers come from 42 countries across Europe and North Africa, and it has 18 sales locations. The 265-strong company has an annual turnover of €580m.

Biesterfeld International focuses on the global trade and distribution of industrial chemicals, salt, agrochemicals, pharmaceutical raw materials and active ingredients. Founded in 2000, it has 100 employees and 13 branches worldwide.

People
Birger Kuck is the chairman of Biesterfeld. Jürgen von Wendorff is a board member of Hannover Finanz.

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• Topics
• DACH
• Expansion
• Industrials
• Germany