The transaction team of C H Reynolds Corporate Finance, under the leadership of Stefan Constantin, Partner, and Robert Kraska, Director, successfully advised HeidelbergCapital on the sale of its stake in Framas Kunststofftechnik GmbH.
Framas develops and manufactures high-tech soles and plastic components primarily for the sport shoe market. Main customers include Adidas and Nike as well as further leading global shoe manufacturers. With its 3,300 employees, the group generates revenues of over USD150 million. Since investing in Framas in 2008, HeidelbergCapital had actively supported the company’s worldwide expansion, including the establishment of development centres in South Korea and Germany.
The acquisition was carried out through a structured sale process, where ultimately the management and the shareholding families prevailed. According to Framas CEO Andreas Wolf, “… the company is now entering a new stage of development in order to continue benefiting from the promising market potential of our high-tech products and innovations."
The Consumer Goods team at CƒHƒReynolds successfully advised Heidelberg Capital on the transaction process, spanning a detailed corporate and market analysis, the identification and approach of potentially interested parties as well as contractual negotiations. As potential strategic buyers were mainly based in Asia, CƒHƒReynolds was able to successfully deploy its international transaction expertise through its global network Mergers Alliance. Additionally, a number of well-known family offices were involved in the process.
"Once again it has been shown that in some cases a target-oriented approach strategy of selected international investors is the best road to take, rather than approaching a wide range of potential investors. We are pleased to have successfully completed the second sale mandate for HeidelbergCapital, after we had already sold their stake in IEP in an international auction process in 2010. Further, in the transaction we have been able to prove our expertise in the complex area of minority transactions", says Stefan Constantin from CƒHƒReynoldsƒCorporate Finance.
Professor Dr Martin Weiblen, Managing Partner with HeidelbergCapital says: “Without the guidance and structured approach of CƒHƒReynolds, we would not have succeeded in reaping the rewards of our proven philosophy of an active shareholding partner.”
