Biesterfeld AG, Hamburg, continues its sustainable and long-term growth strategy with its partner HANNOVER Finanz Group, Hannover, who takes a minority participation in the plastics and chemical distributor.
Biesterfeld Vermögensverwaltung GmbH & Co. KG, currently holding 100% of the shares in Biesterfeld AG, and HANNOVER Finanz Group, Hannover, agreed on the acquisition of 28.6% of the shares of Biesterfeld AG by the latter. This agreement still awaits approval by the German Federal Cartel Authority.
The HANNOVER Finanz Group has been a silent partner in Biesterfeld Vermögensverwaltung GmbH & Co. KG since January 2011. This silent partnership is, as envisaged, now converted into a minority shareholding interest in Biesterfeld AG.
The Board of Biesterfeld AG welcomes this step, which allows further growth of the group and sustainably strengthens the equity position of Biesterfeld AG through a capital increase by the HANNOVER Finanz Group. "With HANNOVER Finanz Group we have a partner who has vast experience in the development of medium-sized enterprises. This step ensures the further development and growth of our Group as a family-owned medium-sized company”, says Birger Kuck, CEO of Biesterfeld AG.
"Biesterfeld AG is on a successful growth path and as financial investors we will accompany this family owned enterprise with a minority partnership” adds Jürgen v. Wendorff, Member of the Board of the HANNOVER Finanz Group. “The HANNOVER Finanz Group supports companies with long-term financing of equity-capital. Other family owned companies, like Rossmann, Fielmann and Hirschvogel, equally financed their growth strategy with the HANNOVER Finanz Group as partners.”
About the Biesterfeld Group:
Biesterfeld AG is the strategic holding company of the Biesterfeld Group with its 100 years tradition in the chemicals business. The company is one of the leading enterprises in chemicals and polymer distribution with over 50 locations worldwide in Europe, the Americas, as well as in Asia. The company, in which the founder's family will continue to hold a majority interest, will focus on steady profitable growth within their core business divisions Plastics, Specialty Chemicals and International.
About the HANNOVER Finanz Group:
For over 35 years now, the HANNOVER Finanz Group has been a sought-after equity capital partner for medium sized enterprises in all industries. The private equity company, founded in 1979, was one of the first providers of venture capital in Germany and is independent of banks or major corporations. The basis of the investments, which are planned for the long term, is formed by eight evergreen funds of unlimited duration backed by institutional investors. Well-known businesses like Fielmann, Rossmann and AIXTRON AG have financed their growth with equity capital from the HANNOVER Finanz Group and made use of its management consultancy services. The Group also invests in companies when a change of generation has to be secured, and in medium sized spin-offs and carve-outs. The commitments cover a range of sound businesses with annual sales of at least 20 million euros in sectors extending from classical manufacturing industry through trade to new technologies. The HANNOVER Finanz Group is one of the few private equity houses in Germany to take on minority as well as majority shareholdings.
For further questions please contact:
Stephanie Winter
Tel.: +49 (0) 40 / 32008-374
Fax: +49 (0) 40 / 32008-478
s.winter[at]biesterfeld[dot]com
Biesterfeld AG
Ferdinandstrasse 41
20095 Hamburg
www.biesterfeld.com
