from KAP AG (isin : DE0006208408)
KAP AG CLOSES SALE OF PRECISION COMPONENTS SEGMENT
EQS-News: KAP AG / Key word(s): Disposal/Strategic Company Decision
KAP AG CLOSES SALE OF PRECISION COMPONENTS SEGMENT
01.11.2024 / 13:47 CET/CEST
The issuer is solely responsible for the content of this announcement.
KAP AG CLOSES SALE OF PRECISION COMPONENTS SEGMENT
- Continuation of clear portfolio strategy enables sharper focus
- Proceeds reach single-digit million euro range as planned; buyer additionally assumes pension and financial obligations
Fulda, 01 November 2024 – KAP AG (“KAP”), a mid-sized industrial holding company listed on the stock exchange (German securities identification number WKN 620840; ISIN DE0006208408), completed the announced sale of all material parts of the precision components segment as planned. Executed under a management buy-out (MBO) by the current management around Christoph Bachmann and Udo Gaumann, the transaction comprises the three operating investees Präzisionsteile Dresden GmbH & Co. KG, Gear Motion GmbH and BEBUSCH Hungaria Müanyagfeldolgozó Kft. as well as three further management and real estate management companies associated with the investees. The sale proceeds are in the single-digit million euro range. In addition, the buyer assumes pension and financial obligations.
Marten Julius, member and Spokesman of the Management Board of KAP AG: “We are very pleased that we were able to sell the precision components segment to the existing management team in a spirit of trust and friendship. The completed sale signals the continuation of our clear portfolio strategy and we can now focus even more sharply on the segments in which we see the best strategic fit within our Group in the medium term. The positioning of our three existing segments provides us with a good basis for capturing value growth potential going forward.
We wish the management and employees of the divested segment every success for the future. In order to enable a smooth start outside the KAP Group, we are accompanying and supporting the beginning of independence in some areas with temporary service agreements as part of the carve-out. In this way, KAP is staying true to its partnership-based investment philosophy into the initial months following the sale of the companies.”
Contact:
KAP AG
Kai Knitter
Head of Investor Relations & Corporate Communications
investorrelations@kap.de
+49 661 103 327
About KAP AG
KAP AG is a listed industrial holding company focused on upper mid-size operating companies that seizes attractive growth opportunities in their respective niche markets. Specifically, KAP AG currently focuses on four distinct operating segments: engineered products, flexible films, surface technologies and precision components. KAP AG currently has over 2,300 employees at 24 locations in eleven countries. KAP AG is a Participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. KAP AG’s shares are listed on the Regulated Market of the Frankfurt Stock Exchange (General Standard, ISIN DE0006208408).
01.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language: | English |
Company: | KAP AG |
Edelzeller Straße 44 | |
36043 Fulda | |
Germany | |
Phone: | 06611030 |
Fax: | 0661103830 |
E-mail: | office@kap.de |
Internet: | www.kap.de |
ISIN: | DE0006208408 |
WKN: | 620840 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2018303 |
End of News | EQS News Service |
2018303 01.11.2024 CET/CEST