Akwel: Buyout Offer Submitted to Acquire the Novares Group
Wednesday, 13 May 2020, 17:45
BUYOUT OFFER SUBMITTED TO ACQUIRE THE NOVARES GROUP
AKWEL (FR0000053027, AKW, PEA-eligible) is announcing that on 13 May 2020 it submitted a buyout offer subject to conditions precedent to the judicial administrators FHB for the NOVARES Group, whose holding company was placed into receivership by Nanterre Commercial Court on 29 April. In principle, the Commercial Court is scheduled to review the offers received and announce its decision concerning a continuation or disposal plan at the end of May.
Present in 23 countries, with 45 production sites and 9 technical centres, NOVARES is a global solutions supplier for the automotive industry, specialised in advanced plastic injection techniques. NOVARES generated revenues of around €1.3bn in 2019 and employs 9,429 people worldwide, including 1,353 in France. Currently, its main shareholders are the Equistone Partners Europe fund (72%) and the Avenir Automobile fund (15%).
The planned business combination between the two groups, which will require the support of the NOVARES Group’s clients and banks, would capitalise on a strong level of proximity (scale, clients, technologies, global industrial footprint) and highly complementary positionings (product ranges, innovation portfolios). For AKWEL, an independent family group, this project would be aligned with its long-term goal to build an equipment manufacturer with an even stronger scale dedicated to serving global automotive manufacturers.
| Next press release: turnover for the first quarter of 2020, Thursday 14 May 2020, after markets close |
| An independent family group listed on the Euronext Paris Stock Exchange, Akwel is an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, offering first-rate industrial and technological expertise in applying and processing materials (plastics, rubber, metal) and mechatronic integration. Operating in 20 countries across five continents, Akwel employs almost 12,000 people worldwide. Euronext Paris – B Compartment – ISIN : FR0000053027 – Reuters : AKW.PA – Bloomberg : AKW:FP |
Contacts
AKWEL
Jean-Louis Thomasset – Vice-President of the Executive Board/Financial VP – Tel.: 25
EKNO – Press Relations
Jean-Marc Atlan - Christine Savoie –– – Tel.: 44 / 23
CALYPTUS – Investor Relations
Mathieu Calleux – Gregory Bosson – – Tel.: 68
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