Halder exits investment in GEKA

Frankfurt, February 27, 2012. Halder, the Frankfurt-based investor in buy-outs of German SMEs, has signed a definitive agreement to sell its majority shareholding in GEKA GmbH, Bechhofen, to 3i. The transaction is subject to approval of anti-trust authorities, the parties involved have agreed not to disclose financial details.

In 2007, Halder and co-investor Idinvest (formerly AGF Private Equity) had acquired GEKA, a leading supplier of applicators and product packaging to the cosmetics industry, from Equita, a German private equity house. An initial investment in the company was held during 1999 – 2004. Halder has been active in Germany since 1991, focusing on MBOs in the SME sector and completing 32 investments to date.

Leveraging innovative technology for integrated injection-moulding of plactics components from two separate raw materials (Moltrusion®), GEKA has become a key supplier to the decorative cosmetics segment of the industry. When products based on moltrusion technology were introduced in 2006, sales revenues were € 67 million. In 2011 GEKA had sales of  about € 106 (€ 100)  million from clients including Avon, Procter & Gamble and Chanel. Establishing production facilities near Chicago, a centre of the US’s plastics industry, was an important driver of the company‘s growth as local production capability in the world’s largest cosmetics market has increased GEKA’s client and sales base significantly.

In summer 2011 GEKA started operations of its first filling line. Among other benefits to clients, the deeper supply chain provides less complexity and faster production throughput: Third party filling which is common practice in the cosmetics industry becomes obsolete as GEKA offers products ready for shipping to the POS. The company’s new profile is a reflection of its ongoing transformation from a technology-oriented manufacturer to a client-driven provider of innovative solutions for the cosmetics industry.

Halder is part of GIMV, a listed European private equity and venture capital group. GIMV focuses on buyouts, growth capital, venture capital and infrastructure investments. More information on www.gimv.com.