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Equity investors acquire Dolan & European Carbon Fiber

22 Apr '15

2 min read

WHEB Partners’ Growth Fund 2 and Dr. Jan Verdenhalven have acquired Dolan GmbH from Lenzing AG and also European Carbon Fiber GmbH, a joint venture between Lenzing AG and Kelheim Fibers GmbH.

“Dolan and European Carbon Fiber share production facilities in Kelheim and an experienced management team,” WHEB Partners said in press release.

Dolan produces high quality specialty fibres used for textiles, convertible car tops, sunshades, garden furniture and protective clothing.

Dolan employs around 100 employees and had revenue of €57.5 million in 2014, while European Carbon produces precursor for the carbon fibre industry and had 2014 revenue totaling to €10.4 million.

“The sale comprises part of Lenzing’s strategy to focus on its core business of man-made cellulose fibres,” Lenzing’s chief financial officer Thomas Riegler said.

“With WHEB and Jan Verdenhalven, Lenzing succeeded in finding financially strong, industry-oriented new owners in which both companies will be able to develop more effectively in the future,” he added.

“Moreover, it is important for European Carbon Fiber that WHEB and Jan Verdenhalven already have longstanding industrial experience in the carbon fibre business,” Riegler noted.

“We are delighted to welcome Dolan and European Carbon as new portfolio companies in our second growth fund,” Dr. Florian Strehle, partner at WHEB Partners said.

“Dolan is a world leader in high-end textile acrylic fibres and we look forward to supporting the team and their successful strategy through our sector expertise and network,” Strehle too added.

Dr. Jan Verdenhalven said, “European Carbon Fiber has successfully developed and marketed an excellent carbon fibre precursor for standard industrial applications.”

“We will support management in leveraging the potential of that product and further upgrade it for high-end applications, ensuring a sustainable growth,” Verdenhalven observed.

WHEB Partners is a European private equity firm with assets under management of €278 million and its funds invest in technology companies with high growth potential and strong ESG credentials.

WHEB Partners’ Growth Fund 2 is supported by the European Union through the Competitiveness and Innovation Framework Programme (CIP).

Dr. Jan Verdenhalven is a private investor with several years of investing and management experience in the chemical and carbon fibre industry. (AR)

Fibre2fashion News Desk - India