US fund buys stake in Germany's Friedola-Tech

Published: November 30, 2012 6:00 am ET
Updated: January 3, 2013 6:27 am ET

Related to this story

Topics Mergers & Acquisitions, Sustainability, Recycling

GEISMAR, GERMANY (Nov. 30, 1:35 p.m. ET) – A U.S. investment firm has purchased a stake in a German company that makes board, sheet and textiles out of recycled plastics.

Friedola-Tech GmbH has received 31 million euros ($40.2 million) in funding from Menlo Park, Calif.-based Silver Lake Kraftwerk, a growth capital investment company.

The company says it will use the funding to open a factory in South Carolina. Friedola-Tech in September had announced plans to invest $14.3 million to open its first North American factory, Con-Pearl North America, in Greenville, S.C.

Under the terms of the transaction, WHEB Partners, a European-based resource efficiency private equity firm, will sell its majority stake in Friedola-Tech to Silver Lake Kraftwerk. Once the transaction has closed, Silver Lake Kraftwerk will become the majority owner, alongside existing co-investor Kleiner Perkins Caufield & Byers (KPCB), which co-led the transaction.

Jorg Sperling, a partner at WHEB Partners, says that Friedola is a “great success story” which was under-appreciated after facing serious challenges during the economic recession in 2008-09.

“The company is now ready to expand in the United States,” he said.

The deal is currently pending anti-trust approval by the German authorities.


Comments

US fund buys stake in Germany's Friedola-Tech

Published: November 30, 2012 6:00 am ET
Updated: January 3, 2013 6:27 am ET

Post Your Comments


Back to story


More stories

Image

Aimplas collaborates with Solarays

December 15, 2014 9:02 am ET

Aimplas, the Technological Institute of Plastics located in Valencia, Spain, has collaborated with Solarays to create a new system which generates...    More

Image

Study on ocean plastics turns up some surprises

December 12, 2014 11:53 am ET

WASHINGTON — An estimated 269,000 tons of plastic trash is churning around in the world’s oceans, most of it in pieces no bigger than a...    More

Image

UK recycler Eco Plastics sold to German investment group

December 12, 2014 11:19 am ET

Recycler Eco Plastics has been bought by Aurelius AG, a Grünwald, Germany-headquartered investment firm, for an undisclosed sum.    More

Image

High prices spark energy-saving technology in Mexico

December 11, 2014 12:55 pm ET

MEXICO CITY — With electricity in Mexico reported to be between 25 to 73 percent more expensive than in the United States, variable frequency...    More

Image

Resin distributor Biesterfeld Plastic buys out partner in Biesterfeld Nordic

December 11, 2014 12:21 pm ET

Hamburg, Germany-based Biesterfeld Plastic GmbH, a distributor for the European plastic and rubber industry, announced that it has bought the shares o...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events