New Ownership at profine
A leading European extruder of window profiles, profine GmbH, is being acquired by Hidden Peak Capital, based in Frankfurt, Germany. The private equity firm is buying up the shares of the manufacturer from Arcapita Bank BSC of Bahrain, which filed for bankruptcy protection in March.
Financial details of the transaction, which still must be approved by regulatory authorities, were not disclosed.
“Hidden Peak Capital decided to invest in the profine Group because its strong brands KBE, Kömmerling, and Trocal adopt a powerful position and can expect excellent growth on an appealing international market,” explains Peter Mrosik, managing partner at Hidden Peak Capital.
“The profine Group now has in Hidden Peak Capital a stable and strong partner at its side. We look forward to working together with our new owner,” notes Frank Pohl, profine CEO.
Based in Troisdorf, North Rhine-Westphalia, Germany, profine employs approximately 3,200 people and recorded a turnover 2011 sales of €700 million, or $920 million. The company supplies PVC profiles for windows and doors and shutter systems, as well as PVC sheets. Selling its products under the KBE, Kömmerling, and Trocal brand names, the international company operates 28 sites in 21 countries with production facilities in Germany, France, Italy, Spain, Russia, Ukraine, the United States and China.