Bregal Unternehmerkapital has acquired a major stake in Swiss company Kunststoff Schwanden, a manufacturer of complex plastic parts and components.
As part of the succession plan, the previous owner Albert Kiener will still play a key role in the company.
Chief executive André Bermann and chief financial officer Martin Züger will acquire shares in Kunststoff Schwanden as well. They will both remain in their respective management roles. The participation of other members of senior management is expected.
The operating properties on the two sites, Schwanden and Näfels, will remain the property of Kiener and will be rented out to Kunststoff Schwanden.
The transaction is still subject to regulatory approval and the parties have agreed not to disclose the purchase price.
"With the success and growth of Kunststoff Schwanden, new challenges have cropped up in recent years. In particular, the increasing customer requirement to be on the ground as a supplier in important economic regions such as China, Mexico and the US, highlights the need to internationalise our production sites. In addition, the time had come to arrange my succession, to pave the way for the continued success of the company and thus to take responsibility for our many workplaces,” says Kiener.
“I am very pleased to have found a business partner in Bregal. This is a perfect fit, not only because of their international experience which is beneficial to Kunststoff Schwanden AG, but also because of the long-term perspective that makes up part of the company's culture, which has been built up over generations by the Brenninkmeijer family.”
The two existing sites in Schwanden and Näfels, in the Canton of Glarus, are to be further bolstered and the customer base will be expanded across all industries.
At the same time, there are plans to make the company more international. The focus will be on growing markets such as China, Mexico and the US as these play a crucial role in the context of global sourcing for major car manufacturers. A later expansion into Central and Eastern Europe is also possible.
"Kunststoff Schwanden is well positioned on the market and we see great potential for further successful development. That is why we are making a long-term commitment and are bringing in our extensive expertise to support growth and for succession situations in medium-sized companies," says Florian Schick, managing partner of Bregal Unternehmerkapital.
Bregal's international network of industry experts and experience in the automobile segment will provide a valuable contribution towards this goal.
Bregal's investments include the automobile supplier, Novem Car Interior Design, based in the Upper Palatinate (producing decorative trim parts for vehicle interiors), and Binder-Group (external aluminium trim parts and roof rails) based in south-west Germany.