Capvis buys Hennecke from Adcuram

Capvis plans to grow the company via expansion into new countries and tapping into new applications for its products. The GP acquired the business via its Capvis Equity IV vehicle, which closed on its €720m hard-cap in January 2014. The deal is expected to close in Q2 2016.

During Adcuram's holding period, Hennecke expanded its product portfolio and hired a new management team. The company also opened two new production sites in Shanghai, raising staff numbers from 10 to 65.

Previous funding
Adcuram acquired Hennecke in January 2008 in a spinout from Bayer AG.

Company
Founded in 1945, Hennecke's 500 employees develop, produce and distribute applications and systems for the production of components made from polyurethane. The company's headquarter is in Sankt Augustin, with additional sites in Germany, the US and China. It has a turnover of €120m.

People
Capvis – Eric Trüeb (partner).
Adcuram – Ulf Lange, Matthias Meise (board members).
Hennecke – Rolf Trippler, Alois Schmid (managing directors).

Advisers
Vendor – DC Advisory (M&A); Pöllath & Partners (Legal).

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