Halder sells GEALAN shareholding to VEKA

Frankfurt, March 12, 2014. Halder, the Frankfurt-based investor in German SMEs, sells its majority shareholding in GEALAN, Oberkotzau, to VEKA Group, Sendenhorst. VEKA is a leading provider of PVC profiles used in the manufacturing of windows and doors. The transaction is subject to approval of anti-trust authorities.

Halder had acquired GEALAN, a manufacturer of PVC vinyl window profiles, after a downturn in sales due to the last financial and economic crisis. Since then, GEALAN has offered more innovative quality products and expanded its sales organization. With stagnating volume and pricing, markets have remained difficult, while previously strong Eastern European markets have not recovered from the downturn. Relative to market developments, the company has performed well with stable sales revenues and good profitability. GEALAN expects total revenues of € 213 million for 2013, in line with revenues for the previous year.

By joining VEKA Group, a family-owned enterprise with revenues of € 795 million in 2012, GEALAN will be in a stronger position to access future market potential.

Halder has been active in Germany since 1991 and has provided 36 SMEs with capital for ownership succession and growth. The firm currently invests from a fund with € 325 million in capital which has acquired seven mid-cap firms to date (www.halder.eu). GEALAN marks the first exit from the fund’s portfolio.