Mon, 02/06/2014 - 06:37
Metric Capital Partners (MCP), the European private capital group, has invested in HTI High Tech Industries.
HTI Group, listed on the mid-market segment of the Vienna Stock Exchange and headquartered in St Marien, Upper Austria, is an international technological manufacturing group specialised in lightweight components in the fields of aluminium pressure die casting and plastic injection moulding.
HTI Group is active at four locations in Austria and Slovakia and has close project partnerships and established business relations with customers across Europe.
MCP’s investment supports the recapitalisation of HTI Group, which was achieved in close cooperation with its existing financing partners who played a key role in the successful restructuring of the company’s financial liabilities.
MCP is entering the transaction together with ICS Partners, a specialised investment and management firm with leading expertise in the automotive and manufacturing sector.
John Sinik, managing partner of MCP, says: "We are very pleased with the successful outcome of the refinancing of HTI and are confident that with the strong balance sheet provided by the new investment, the management team will have the necessary resources to re-align operations and start implementing growth initiatives.“
Peter Glatzmeier, chief executive of HTI, says: "The new investment and recapitalisation of HTI is a tremendous opportunity for us to re-focus the business on delivering industry leading lightweight products and service levels to our customers. The combination of financial and operational expertise of the investors offers a strong support base to execute on our future plans. ”
John Sinik and David Scheurl will represent MCP on the supervisory board of the company and Dr. Ingo Zemke will represent ICS Partners.
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