Investcorp receives €250 million investment in refinancing of Dutch company
Bahrain’s Investcorp has reported the refinancing of its investment in chemical producer Stahl Holdings through a re-capitalization. This has enabled Investcorp to return approximately one-third of its clients' original capital investment, while the company and its patrons continue to own 100 percent of the Dutch firm.
Investcorp acquired Stahl in January 2002. This refinancing, occurring within two years of the original transaction, has not only provided an early partial return of capital to Investcorp and its investors, but is also a key step towards full realization of this investment in due course.
Investcorp Managing Director and General Manager of the firm's Bahrain office, Salman Abbasi said: “This is a reflection of the strong operating performance and growth in cash flows that the management team and employees of Stahl has been delivering since the original acquisition, despite difficult global economic conditions.”
Stahl is a developer, manufacturer and distributor of specialty chemicals for selected niche markets in leather processing, flexible material coatings, paper and industrial colorants.
The company is one of the world's leading suppliers of leather processing products. It also has strong positions in market niche areas with proprietary products such as Permuthane, a range of coatings and finishes for textiles and coated fabrics used in products from footwear and clothing to flooring and wall coverings.
Founded in 1914, Stahl is based in the Netherlands and employs some 1,500 people at 13 manufacturing sites and 26 technical service laboratories in 28 countries worldwide.
In Europe, Investcorp and its clients currently own corporate investments that include Minimax, Avecia, Gerresheimer Glas and Welcome Break. — (menareport.com)
© 2003 Mena Report (www.menareport.com)