H2 Equity Partners (“H2”) is pleased to announce that it has agreed to sell Halex Holding GmbH and its subsidiaries (“Halex” or the “Company”) to Bencis Capital Partners (“Bencis”), a mid-market private equity investor that supports strong and successful businesses in the Benelux and Germany.
Halex is a German industrial group – comprising of two businesses – that provides metal hardening and heat treatment services for a variety of end markets, and that manufactures complex steel dies for the aluminum extrusion industry.
Sven Killmer, Roberto Lucato and Timo Röskes, the central management team of Halex, comment: “We would like to thank H2 for their contribution and support during the past 4.5 years and are excited to pursue Halex’ organic and external growth plan.”
Gert Jan van der Hoeven, Managing Partner of H2, comments: “During H2’s ownership period, Halex has benefited from the turnaround of the central support functions, strong organic growth and performance improvement of the individual sites supported by growth enhancing investments, and several attractive add-on acquisitions. The company has transformed itself into a market leading player with strong management and best-in-class systems and processes. The company’s profits have increased fourfold in the past five years. We are confident that Bencis is the right partner for Halex in terms of supporting further development and growth.”
Cedric De Dycker, Investment Manager at H2, comments: “Halex has witnessed an impressive development and we look back on a number of intense and fun years with the Company. We would like to express our gratitude to the central management team and to the local managing directors for their commitment and for the fruitful collaboration. With its innovative technologies, leadership in quality, strategically located footprint and strong entrepreneurial culture, Halex is well positioned to capture further organic growth and continue its buy-and-build program.”
H2 has been advised by Lincoln International (corporate finance), Morrison & Foerster (legal), Houthoff (legal), Loyens & Loeff (tax), PWC (commercial, financial and tax), and ERM (environmental).
Halex is a German industrial group comprising of two businesses:
Härtha Hardening – a metal hardening and heat treatment business, with a comprehensive portfolio of highly value-added services for mission critical components used in various end markets such as automotive, machine tooling, construction, aerospace and medicine.
Halex Extrusion Dies – the development and manufacturing of complex steel dies for the aluminum extrusion industry.
The Company operates 12 sites in Germany, Italy, The Netherlands and Romania and employs a staff of circa 460 FTEs.