Wheelabrator Group’s owner, Mid Europa Partners, to acquire DISA Group
The owner of Wheelabrator Group, Mid Europa Partners ("Mid Europa"), has announced today that it has agreed to acquire 100% of DISA (the "Company"), a company active in the global moulding and metal surface preparation markets, from Procuritas Capital Investors III. The change of ownership is subject to approval from anti-trust authorities, which Mid Europa expects to obtain in the first half of 2008.
DISA is an important provider of moulding and metal surface preparation equipment and advanced technology solutions. The Company has production units in Central and Eastern Europe (Czech Republic), Denmark, India and China and has around 1,400 employees. DISA operates within a global market offering state-of the-art technology and product development to its customers.
Mid Europa is already an investor in another metal surface preparation company, Wheelabrator Group.
Zbigniew Rekusz, Partner of Mid Europa, said: "We are delighted to welcome DISA into our portfolio of companies. We have been very impressed with the quality of the management of DISA and the performance they have achieved in recent years. We will work closely with them to ensure that DISA develops its global offer and customer relationships. With our long term investment horizon, financial resources and industry expertise we will continue to support the management in their plans to further grow the business. This transaction, executed by Kerim Turkmen, Pawel Padusinski and Tomasz Blicharski from Mid Europa, demonstrates our ability to build on our leadership in Central and Eastern Europe and complete innovative transactions in advanced technology solutions sectors."
Kerim Turkmen, of Mid Europa said: "The acquisition of DISA is consistent with our strategy of investing in businesses with strong industry track records and operating in markets with attractive growth prospects. Combined with our existing portfolio company the Wheelabrator Group, DISA will be able to enhance its service offering to its global customer base."
Robert E. Joyce, President and CEO of Wheelabrator Group said: "We want to thank our shareholders for the opportunity of creating a world-class metallic parts enhancement company through the combination of our two great companies. We look forward to working with our new partner DISA in making Mid Europa's vision a reality."
Mid Europa was advised in this transaction by Rothschild, White & Case, Jonas Bruun, PwC, BDO Stoy Hayward and PA Consulting.
For further information, please contact:
Mid Europa Partners:
Zbigniew Rekusz
+48 (22) 540 7120
Kerim Turkmen
+44 207 886 3626
Notes to editors:
About Mid Europa Partners
Mid Europa Partners is the largest private equity firm investing in Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with committed capital in excess of €2.6 billion. The Mid Europa Partners team has been investing in Central and Eastern Europe since 1999. Mid Europa Partners has made investments in twenty companies located in fourteen countries of Central and Eastern Europe. Mid Europa Partners employs an active, hands-on investment approach and applies the sector knowledge and operating experience of its people to deliver long-term value creation together with the management teams of portfolio companies.
For additional information on Mid Europa Partners please visit: www.mideuropa.com.
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