Gimv invests in Alro Group car and truck coating
Antwerp/ Munich — Gimv acquires a majority stake in the fast-growing Alro Group, a specialist in industrial coating of car and truck parts. The transaction is part of the succession plan for the family business — Gimv is taking over the shares from the founding family Thijs. The current management remains on board and supports the company’s further growth ambitions with its reinvestment.
Alro Group (Dilsen-Stokkem, Belgium, www.alro-group.com) was founded in 1976 by the Thijs family. The company has grown from a small coating company to a renowned group with several branches in Western and Central Europe. The group specializes in coating and painting plastic or metal vehicle parts.
Alro is characterized by strong customer orientation and diverse coating technologies, enabling it to respond flexibly and quickly to the growing demand for customized solutions. With about 1,000 employees and around 20 coating lines, the company has significant capacities. These process over 100,000 products per day on modern production lines using data-controlled processes. Today, the customer base consists of a large number of well-known names in the car and truck industry.
As a Tier 1 supplier, the Alro Group relies on strong customer relationships: OEM truck manufacturers appreciate the reliable supply (just-in-time / just-in-sequence), the high flexibility in painting in over 1,000 colors and the assembly of numerous different parts. Recently, Alro Group also developed an innovative solution for coating battery housings for electric vehicles. The company is thus ideally positioned to benefit from the expected strong growth of the electric vehicle market. In addition, the Alro Group is responding to the increasing demand for contrasting colors, which enable automakers to further personalize the appearance of their vehicles.
Since the start of the new management team, the company has undergone a positive transformation, focusing on increasing value creation and flexibility.
Increase delivered value-add and focus on greater flexibility. The investment by Gimv is intended to help implement the growth plans and support the professionalization course of the company’s management.
Christophe Van Quickenborne, Partner in Gimv’s Smart Industries team, describes it as follows: “Alro Group complements a whole range of Smart Industries investments in advanced manufacturing companies at Gimv. Through our experience with other successful investments in the automotive sector, we understand the importance of far-reaching flexibility and product differentiation — making companies preferred partners to their OEM customers. Together with Alro’s management, we intend to further leverage the group’s strengths and generate additional growth. Already, comprehensive data control, strong engineering capabilities, and high flexibility and customer focus are key differentiators.”
Jan Craenen, CEO of Alro Group, adds: “We are convinced that with Gimv we have gained a very reliable local partner with extensive know-how in the automotive industry. The transaction is an important step in the further development of Alro. The helm will remain in the hands of the current management team, which together with Gimv will focus on further growth and innovative solutions for customers. On behalf of the entire management team, we would like to thank the Thijs family for their trust. Our thanks also go to Kumulus Partners for their expert support in this transaction. And last but not least, our thanks go to all the employees of Alro Group, without whom we would not be where we are today.”
The transaction is subject to customary conditions, including approval by the competition authorities. Further financial details will not be disclosed.