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

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

US Bioplastics receives funding to bring Gatoresin to the market

July 24, 2014 1:44 pm ET

Materials maker U.S. Bioplastics is hoping its Gatoresin product will take a bite out of the bioplastics market, thanks to funding from a state...    More

Image

Prices trending up for some recycled resins

July 24, 2014 1:27 pm ET

Plastics News is correcting prices for recycled grades of several commodity resins on this week's resin pricing chart.    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC,...    More

Image

Plastics News Now: Lego pieces wash ashore 17 years after accident

July 24, 2014 9:16 am ET

Michigan replacing steel with carbon fiber to reinforce concrete on a bridge and we talk economics with Bill Wood.    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

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

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

More Events