The Transaction
Blue Cap AG (Munich) and GNS KV GmbH (Bielefeld) signed an agreement on February 1, 2021, under which Blue Cap AG acquired a 71% stake in the Hero Group. The Hero Group, comprising Hero GmbH, H+E, and Engel, produces and distributes high-quality injection-molded parts and assemblies for the automotive, medical, and consumer goods industries. The agreement was closed on February 26, 2021.
Loy & Co successfully advised GNS KV GmbH on the divestiture process during the restrictions caused by COVID-19.
The mandate encompassed the entire structured divestiture process, including valuation and purchase price assessment, preparation of transaction-relevant documents, research and identification of suitable prospective buyers, structuring of due diligence, and negotiation support until the successful completion of the transaction.
The Companies
GNS KV
GNS KV GmbH is a direct and indirect majority shareholder of the GNS Group, a Korean family-owned company focused on the automotive, building construction, and industrial steel service sectors. For four decades, Hero GmbH has been developing and manufacturing high-quality injection-molded parts, assemblies, and tools. From its Ittlingen location, Hero primarily supplies customers in the automotive (interior) sector, as well as the medical and household appliance industries.
Hero Group
Hero also holds 100% of the shares in ENGEL Formenbau und Spritzguss GmbH and H+E Automotive GmbH. Both companies develop, manufacture, and assemble high-quality injection-molded parts using the gas injection molding process and assemblies at four locations in Sinsheim. Mr. Phillip Bentzinger, who already held shares in the Hero Group prior to the transaction, will continue to lead the company as Managing Partner together with the existing team.
Blue Cap AG
CapBlue Cap AG is a publicly listed group of companies founded in 2006 and headquartered in Munich. As an investment company, it invests in medium-sized, technology-driven niche companies with revenues between €30 million and €80 million. The Blue Cap Group’s portfolio currently includes companies in the fields of adhesives and coating technology, plastics technology, metals technology, production technology, and medical technology. The Blue Cap Group companies develop independently and pursue their own growth strategies, supported by the broad expertise of the holding company.
