27 april 2011

AAC Capital Partners sells Inalfa Roof Systems Group

Amsterdam, Venray, Beijing, 27 April 2011


AAC Capital Partners, a leading Northern European mid-market buy-out firm, today announced that, together with its co-shareholder Parcom Capital, it has agreed to sell Inalfa Roof Systems Group B.V. (“Inalfa”) to Beijing Hainachuan Automotive Parts Co., Ltd. (“BHAP’).


Inalfa is one of the world's largest suppliers of vehicle roof systems. The company designs, develops and manufactures sunroofs and open-roof systems for the leading car manufacturers around the globe, including BMW Group, Daimler, Chrysler Group, Ford Motor Company, General Motors, Volkswagen, Audi, Volvo, Citroën, Chery, Geely, Hyundai Kia, Land Rover, Rolls Royce, Renault, Nissan and many others. Inalfa combines its outstanding best-in-class engineering capabilities and a global footprint, with facilities in Europe, USA, South Korea, China, Brazil, Mexico and Japan, to benefit its customers.


This transaction is a landmark for Inalfa, emerging as a clear market leader following years of investment in innovation and global presence, as well as for AAC Capital Partners, concluding a fruitful strategic cooperation with Inalfa’s management team.


Marcel Schabos, CEO of Inalfa, says:
“I am grateful to all at Inalfa and AAC Capital Partners for their contribution and support over the past years helping to transform the company into what it is now–a healthy, market-leading innovator in vehicle roof systems. I am confident that with this new step in Inalfa’s evolution we will continue delivering state-of-the-art products to our clients and be able to take advantage of the considerable growth opportunities in Asia.


Marc Staal, Managing Partner of AAC Capital Partners in the Benelux, adds:
“We are proud to have supported Inalfa and its outstanding management team. Having invested significantly in innovation, we are confident that the company will continue building on its key strengths of advanced technology, best-in-class engineering capabilities, product integrity and customer relations."


BHAP is one of the leading automotive parts manufacturers in China. As part of BHAP’s international strategy to expand to the global automotive parts market, the strategic acquisition of Inalfa will further diversify BHAP’s product portfolio, strengthen its R&D and marketing capabilities as well as its competitiveness. BHAP’s management is confident that after this acquisition, Inalfa will grow even more rapidly with improving market share and financial profitability.


The transaction needs to be approved by the National Development and Reform Commission of the People's Republic of China and is subject to antitrust clearance.


Lincoln International is acting as financial advisor to the shareholders of Inalfa and De Brauw Blackstone Westbroek is acting as their legal advisor.

Notes Editors

About Inalfa Roof Systems Group
Inalfa Roof Systems is one of the world’s largest providers of vehicle roof systems. Inalfa designs, develops and manufactures sunroofs and open-roof systems for the automotive industry, such as the BMW Group, Daimler, Chrysler, Ford Motor Group, General Motors, Volkswagen, Audi, Volvo, Citroën, Chery, Geely, Hyundai Kia, Land Rover, Rolls Royce, Renault, Nissan and many others. On top of this, Inalfa also supplies roof systems for truck manufacturers such as Mercedes-Benz, Scania, MAN/Steyr, Volvo Global Trucks, Iveco, DAF Paccar Group, VW and Ford. Inalfa Roof Systems is a reliable engineering and assembly partner with a global footprint that helps it to optimize costs for its customers and forge strong links with its suppliers. Inalfa Roof Systems stands for innovation, technological expertise and quality, and customer proximity.

The Inalfa Roof Systems Group has its headquarters in Venray, the Netherlands, with facilities in the Slovakia, the Netherlands, US, Brazil, Mexico, South Korea, China and Japan.


About AAC Capital Partners:
AAC Capital Partners is a leading Northern European mid-market buy-out firm which focuses on buy-outs within the €50-€500 million deal range in the consumer, industrial and services sectors. It targets opportunities for majority stakes in profitable, cash-generative companies headquartered in the Netherlands, the Nordic region and the UK. It currently has €1.7 billion total funds under management. Most recently, AAC Capital Partners acquired Orangefield Trust and completed a successful exit of IMCD.


About Parcom Capital
Established in 1982 Parcom Capital is a pan-European investment firm that invests in midmarket private equity Supported by over EUR 1.6 billion in capital Parcom has a longer term investment horizon focused on helping management teams realize their growth ambitions. With offices in Amsterdam, Paris and Munich and through investment partnerships we have been able to successfully invest in over 250 companies across Europe.


About Beijing Hainachuan Automotive Parts Co., Ltd.:
BHAP is a leading automotive parts manufacturer in China. As one of the most influential automotive parts manufacturing companies in China, BHAP currently owns 26 manufacturing subsidiaries, including 10 sino-ventures, and offers a wide array of products covering six major categories, including automotive modular interior/exterior decoration, seat system, electronic module system, heat exchange system and chassis.


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