3i portfolio company Schlemmer sells SIB
Aschheim (Munich) — Supplier Schlemmer — a portfolio company of private equity investor 3i — has strengthened its focus on plastic products and the automotive business by selling Schlemmer Industry & Building Parts (SIB), a French subsidiary. The company intends to continue its growth with new products.
Schlemmer is known for its cable protection solutions, fluid lines and, for some years now, battery protection systems. The company intends to grow further in these fields. SIB supplies mainly to DIY stores and the construction sector and also manufactures metal cable glands and accessories. Schlemmer Industry & Building Parts (SIB) was acquired a few days ago by Galiena Capital, a private equity firm based in France. Both parties have agreed not to disclose the purchase price.
“In view of the rapidly changing markets, the clearer positioning as a plastics expert for the automotive industry is an essential cornerstone for our success,” explains Karl Krause, President and CEO of the Schlemmer Group. “By focusing on our core automotive business, we will be able to offer our customers innovative solutions that are even better tailored to them in the future and thus further drive our global growth.”
Schlemmer has 22 production sites and around 3,800 employees, generating sales of 355 million euros, including around 100 million euros in China. The company has been owned by private equity investor 3i for around three years.
In the coming months, Schlemmer also plans to further expand its expertise in the e‑mobility segment and vehicle infrastructure, as well as optimize its production footprint, as part of its growth strategy. Among the new products Schlemmer plans to grow with are fluid lines for cleaning sensors on the vehicle and for battery temperature control, as well as battery covers.