DC Advisory and Montalban Atlas Capital acted as exclusive advisors to SURTECO SE (SURTECO) for the acquisition of 100% of the shares in Spanish Global Abbasi SL, the parent company of the Probos Group (Probos) €99.0 million from Alantra Private Equity (Alantra).
Probos was founded in 1977 in Porto, Portugal. The company is a leading and highly profitable manufacturer of plastic edgebandings with sales of €66.5m and an EBITDA margin of around 17% for 2016. With a presence in more than 50 countries, Probos benefits from long-term relationships and is a leader in the emerging markets of South and Central America. The Group is a global manufacturer of thermoplastic adhesive edge bands for the furniture industry, with a focus on PVC and ABS products and a product line of over 124,000 references and more than 10,000 colours. The group employs approximately 470 people in its production facilities in Portugal and Brazil as well as sales offices in the United Kingdom, the United States, Mexico and Germany.
SURTECO SE (SURTECO) is one of the world's leading manufacturers of paper and plastic decorative surface materials and technical profiles for the flooring, woodworking, furniture and construction industries. Founded in 2000 in Buttenwiesen-Pfaffenhofen, SURTECO is now listed on the German stock exchange and has a market capitalization of around € 370 million. Last year, the company generated revenues of €639.8m and an EBITDA of €74.3m. The Probos Group's foreign sites are an excellent addition to the local production sites of the SURTECO subsidiary Döllken-Kunststoffverarbeitung GmbH, which specialises in adhesive edge banding, and provide the combined group with strategic and operational advantages. The acquisition of Probos enhances SURTECO's product expertise as a leading supplier of plastic edge banding and expands the company's geographic markets, in particular through its entry into Brazil and the Iberian Peninsula.
"The acquisition of Probos is another milestone for us. The company is not only highly profitable and strong in growth, but with its established market presence in South and Central America, it also offers us great potential in markets in which we have so far had little presence," commented Dr. Herbert Müller, the CEO of SURTECO SE.