Monthly Finance News Magazine dedicated to reporting the key financial stories of the day from across the globe for an international corporate readership.

Steadfast Capital Acquires a Majority Participation in Reutter/ITIB Group

0

 In order to support further international expansion of the business, Steadfast Capital Fund III has acquired a majority stake in Reutter/ITIB Group. The transaction comprised Reutter GmbH, based in Leutenbach, Germany (with plants in Austria, Slovakia, Mexico and India), and Italy-based ITIB S.r.l. (with plants in Italy and Poland). The Reutter Group is a leading international provider of caps (cooling, oil filler and tank) and selective catalytic reduction “SCR” (AdBlue) filling systems for commercial vehicles and passenger cars.  ITIB is a manufacturer of thermoplastic tubes and pipe connections, supplying to the automotive and white goods market. Together with Reutter’s management and Fortas AG, which has  retained  a  minority  shareholding,  Steadfast  Capital  will  strengthen  the  integration  of  the  two group  companies  and  support  the  development  of  innovative  products,  as  well  as  entry  into  new markets.

The debt financing of the transaction was provided by Permira Debt Managers and Südwestbank. The parties have agreed not to disclose the purchase price.

Comments
Loading...