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 Sustainability, Mergers & Acquisitions, 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

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it...    More

Image

How's the media treating plastics these days?

August 27, 2014 10:49 am ET

In my daily searches for breaking news, I tend to come across a lot of interesting stories about plastics that don't really fit anywhere specifically,...    More

Image

Sony entering recycled PC market

August 27, 2014 11:08 am ET

Consumer electronics giant Sony Corp. is getting into a sideline of selling recycled resins.    More

Packaging maker Sinea expands into recycled PET sheet with Gneuss

August 27, 2014 10:50 am ET

Multinational plastic packaging manufacturer Sinea, a unit of the Spanish IG Group with a strong presence in caps for soft drinks and polypropylene...    More

Image

Canadian thermoformer ICI gets new financial backing

August 26, 2014 3:11 pm ET

Innovative Composites International Inc. (ICI) will get a $1.5 million infusion in the form of a loan and equity funding to cover a corporate restruct...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events