PPM Capital announces acquisition of BST Safety Textiles

05 Jul '05

2 min read

A mid-market private equity specialist, PPM Capital has signed a share purchase agreement with Mr. Johann Berger to acquire BST Safety Textiles, a leading global manufacturer of fabrics for the automotive airbag segment as well as the seatbelt and commercial webbing in North America.

Combined equity and bank facilities provided amount to approximately €125m. The transaction is subject to regulatory approvals.

BST is headquartered in Maulburg near Lörrach (Baden-Würtemberg). Johann Berger together with Seiba Hackelsberger, the predecessor company of BST, started the airbag manufacturing activities in 1987 and developed them into one of the leading players in the worldwide market for developing and manufacturing airbag fabrics for the automotive industry.

The Group generates revenues of circa €200 million and employs approximately 1,200 personnel worldwide. BST serves customers globally, with production facilities in Germany, Poland and the United States.

The company designs and manufactures a wide range of airbag textiles and narrow fabrics (North America) and enjoys strong market shares for its products.

Johann Berger said, “I am very pleased that both company and management will have a strong and reliable shareholder to help them with the future development of this company.”

Commenting on the investment, Hans Albert Graefe, CEO of BST, said, “We are looking forward to developing the company together with a supporting investor who shares our long term perspective.”

More Textiles News - United Kingdom...