Callista expands its portfolio and acquires Poppe Ahrensbök GmbH (prospectively Globus Gummiwerke GmbH)
- Callista Private Equity expands its portfolio and acquires 100% of the shares of Poppe Ahrensbök GmbH (prospectively Globus Gummiwerke GmbH)
- Poppe Ahrensbök GmbH is a leading manufacturer of elastomer products in the field of automotive, aerosol and packaging
- Callista Private Equity will set the focus on the stabilization of the operative business and on sustainable expansion
Munich, March 10th, 2016 – Callista Private Equity GmbH & Co.KG (“Callista Private Equity“) announces the acquisition of the entire shares of Poppe Ahrensbök GmbH, formerly known as Globus Gummiwerke GmbH. Poppe Ahrensbök GmbH was formerly owned by Poppe GmbH, which intends to increase the focus on its core business and thus divested the company within a structured process for a single-digit million purchase price. The restructuring measures executed successfully by the previous shareholder led to an initial stabilization of the company. Callista Private Equity will undertake the necessary steps to achieve a further increase of the competitiveness as well as a sustainable expansion of the company.
The future Globus Gummiwerke GmbH has a 100 years history as traditional family-run supplier in markets for elastomer- and technical tubular rings and impresses with its profound competency in material, development and manufacturing processes. The company with its 230 employees generates revenues of approx. EUR 32m and it should already reach break-even in the current fiscal year. With the support of Callista Private Equity, competitiveness is intended to be increased and operative processes will be optimized significantly. Poppe-Veritas Group will support this transformation process as a remaining important supplier.
Olaf Meier, Chief Executive Officer of Callista Private Equity, comments on the transaction: “With this transaction, we strengthen our activities in the strategically important automotive industry. First of all, our short-term objective is to separate Globus Gummiwerke from the group in course of the restructuring and to build up an independent, medium-sized company. In the mid-term, we target an organic, but quite dynamic growth by attracting new markets. The production site in Ahrensbök close to Lübeck will also persist with the existing workforce in the long run.”
The transfer of ownership is currently constrained by various conditions precedent. Both parties intend to execute the transfer as soon as possible.