Gimv has acquired a majority stake in Alro Group, a Belgium-based automotive coating products manufacturer, from the founding Thijs family.
The company's current management team remains on board and reinvested in Alro.
Gimv's investment is intended to allow Alro to realise its continued growth ambitions and to support management in the further professionalisation of the group.
Gimv usually invests between €5-50m in companies with an enterprise value of up to €250m, according to its website. The GP recently backed a Germany-based business, the battery systems developer and manufacturer Smart Battery Solutions.
Alro was founded in 1976 by the Thijs family. The group has several branches in western and central Europe, specialised in the coating of plastic and metal parts for the automotive sector.
The business has 1,000 employees, with offices in Genk and Dilsen-Stokkem in Belgium, and in the Netherlands and Slovakia, according to its website.
Gimv – Christophe Van Quickenborne (partner).
Alro Group – Jan Craenen (CEO).
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