DGAP-News

SURTECO SE: SURTECO continues expansion with takeover of the Portuguese Probos Group

DGAP-News: SURTECO SE / Key word(s): Takeover SURTECO SE: SURTECO continues expansion with takeover of the Portuguese Probos Group 24.06.2017 / 11:23 The issuer is solely responsible for the content of this announcement. SURTECO continues expansion with takeover of the Portuguese Probos Group

- Probos is a leading and highly profitable manufacturer of plastic edgebandings with sales of EUR 66.5 million and an EBITDA margin of around 17 %

- Expansion in strategically important markets in South and Central America

- Exploitation of favourable interest-rate environment to finance the purchase price

 

Buttenwiesen-Pfaffenhofen, 24 June 2017 - SURTECO SE - one of the world's leading manufacturers of decorative surface materials and producer of technical extrusions made of plastic - strategically continues its corporate expansion with the takeover of the Portuguese Probos Group. This transaction involves the SURTECO subsidiary company Döllken-Kunststoffverarbeitung GmbH in acquiring 100% of the shares in Global Abassi S.L., the Spanish parent company of the Probos Group. The purchase contract scheduled for closure in the coming weeks is neither subject to any condition precedent nor antitrust approval. The sellers are Alantra Private Equity, the PE division of global investment banking and asset-management firm ALANTRA and to a lesser extent the Probos management. The headquarters of the Probos Group are located in Porto, Portugal. The Group has a workforce of around 470 employees and it has specialized primarily in the production of PVC and ABS plastic edgebandings. SURTECO is expanding its regional presence by acquiring assembly sites in Brazil and Portugal, and sales and processing locations in Germany, the USA, Mexico and the United Kingdom. This is particularly true for the strategically important markets in South and Central America where the company has been underrepresented up until now. In future, SURTECO will have increased opportunities to promote its own products in these markets. Probos also enhances the Group's product competence as a leading provider of PVC edgebandings.