Exit: NORD Holding sells stake in AVISTA OIL AG
Hanover — NORD Holding Unternehmensbeteiligungsgesellschaft mbH, Hanover, has sold its minority shareholding in AVISTA OIL AG, one of the leading companies in used oil processing in Europe and the USA, to Bitburger Holding GmbH and SKion GmbH.
The minority investment by NORD Holding was made as part of a growth financing to implement AVISTA OIL’s long-term strategy of further internationalizing its business and expanding its product portfolio. “We are pleased to have been able to guide AVISTA OIL’s outstanding management team through key strategic decisions in recent years, including their move into the U.S. The new shareholder structure now allows AVISTA OIL to take the next step in its growth,” says Andreas Bösenberg, Managing Director of NORD Holding. “We have more than achieved our common goals in the cooperation with NORD Holding. The personal and very trusting relationship will certainly continue beyond his retirement as a shareholder of AVISTA OIL,” adds Marc Verfürth, member of the board of AVISTA OIL AG.
About AVISTA OIL AG
AVISTA OIL AG is one of the leading companies in used oil regeneration in Europe and the USA with an annual regeneration capacity of almost 500,000 tons today. In the oil upcycling segment, AVISTA OIL has a current capacity of more than 300,000 tons, with another 100,000 tons under construction, and is one of the technology leaders in the production of high-quality base oils and lubricants from used oils. A number of subsidiaries and associated companies are bundled under the umbrella of AVISTA OIL AG, which performs all functions from collection & logistics, re-refining and lubricant production to international distribution. AVISTA OIL employs around 700 people at several refinery sites in Europe and the USA.
About NORD Holding
With its 50-year history and assets under management of € 2 billion, NORD Holding is one of the leading private equity asset management companies in Germany. The focus is on the business areas of direct investments and fund of funds investments. The focus of the direct business is on the structuring and financing of corporate succession models, the acquisition of group parts/subsidiaries and the expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage time-limited funds, NORD Holding acts as a so-called “evergreen fund” with no time limit and invests from its own balance sheet. The company is currently involved with more than 15 companies in Germany and other German-speaking countries. The Fund Investments business unit targets the small- and mid-cap segment of the European private equity market and focuses on primary, secondary and co-investments. NORD Holding focuses strongly on buyout managers newly established on the market, operational investment strategies and also regularly acts as an anchor investor. The fund of funds division currently manages € 1.3 billion and is one of the most successful fund of funds companies in Europe.