Change in ICS Portfolio Company ICT: Management Buy-out at ICT Kierspe GmbH
May 21, 2012 Focussing on the core business of interior parts: ICS PARTNERS continues the consequent refocussing of its portfolio company Innovative Components Technologies-Group (ICT) and sells all shares in Innovative Components Technologies Kierspe GmbH to the management.
Wächtersbach (Deutschland) / Zug (Schweiz) / Kierspe (Deutschland), 21 May 2012 – ICS PARTNERS GmbH (ICS) specialises in acquiring and operating companies finding themselves in unique situations, and focuses on complex corporate transactions. The ICS team consists of experts with proven investment and transaction expertise and of experienced professionals with pertinent industry knowledge. One of ICS’ focal areas is the automotive industry. Given this industry specialisation, ICS, in November of 2011, took on the restructuring of the ICT Group (previously KP Germany GmbH), an automotive group with five production sites, ICT Kierspe being one of them. ICT has now sold 100% of its shares in ICT Kierspe GmbH to the management. With effect from 15 May 2012, the long-term plant manager Manfred Gante has acquired the company, which will be renamed into Kunststofftechnik Backhaus GmbH. The transaction has been exclusively advised and closed by Dr. Ingo Zemke, Managing Director and Partner of ICS. „We judge especially the refocussing on core competences at our portfolio companies as one important key success factor for the future of KB and ICT“, explains Dr. Zemke.
With its plants in Wächtersbachand, Lennestadt (both in Germany), Tachov (Czech Republic) and Borja (Spain),ICT is thus concentrating on decorative and kinematic parts and assemblies with increased complexity for vehicle interiors. Its core business includes centre consoles, boot systems, seat belt height adjustors and internal door controls as well as decorative and functional interior parts.“This transaction is a positive step for both companies”, comments Carsten Paris, CEO of ICT and partner at ICS. “For our portfolio company ICT, this is a further substantial step forward to the consistent refocusing of its business activities following the departure from the Key Plastics group. With the reintroduction of clear management structures and responsibilities, as they are typical for medium-sized businesses, an unambiguous company strategy as well as rapid decision making, ICT is clearly back on track for further growth. The product range of Kierspe is focussed on technical plastic parts predominantly for the engine compartment and thus clearly differs from the rest of ICT. In sales in particular, this requires a different approach that Kierspe can implement in a much more focussed manner independently. This benefits both sides. The product-related focussing of ICT is thus complete.
Manfred Gante, the new major shareholder at KB Backhaus, sees huge potential for the company and is pleased to be able to take it into the market in future under the (previously successful) name Kunststofftechnik Backhaus GmbH. “The company has excellent employees, systems, technology and customers who will all contribute to our future success.”