Steadfast Capital acquires a stake in the BUK Group
Frankfurt am Main/ Eppingen — With the aim of supporting the further development of the company, Steadfast Capital Fund IV SCS, SICAV-RAIF has invested in BUK Group (BUK). The BUK Group comprises BUK Kunststofftechnik GmbH and EMG GmbH, both based in Eppingen (Baden-Württemberg), UHB Kunststofftechnik GmbH, based in Bohmte (Lower Saxony), and the Group’s toolmaking operations. The parties have agreed not to disclose the terms of the investment.
BUK is a leading manufacturer of high-precision injection molded engineering plastic parts for customers in a variety of industries. The manufactured parts are used, among others, in hand tools, water fittings and household and electrical appliances. In addition to parts manufacturing, BUK maintains its own tool shop and offers its customers comprehensive assembly services. Together with Thorsten Ulbrich, who continues to hold a significant stake in BUK, Steadfast Capital will drive the further development of the group, both in terms of personnel and strategy.
Marco Bernecker, Managing Partner of Steadfast Capital GmbH: ” We are looking forward to working with an excellent entrepreneur and his management and to support the successful further development of BUK. Given its focused product offering in various end markets, as well as its technological expertise and state-of-the-art production processes, we are convinced that the company will have excellent growth opportunities in the future.”
Nationalbank Essen and Oldenburgische Landesbank are supporting the transaction with acquisition financing and a working capital loan.
About the BUK Group
Founded in 1985 and taken over by Thorsten Ulbrich in 1996, the group of companies specializes in the production of sophisticated technical plastic molded parts (individual parts and assemblies) based on state-of-the-art injection molding machines. The product range extends from high-precision plastic parts for small electrical devices (e.g. grinding tools) to complex assemblies for high-pressure pumps and ventilation and cooling devices. BUK supports its customers from the development of new products, through pre-series to serial production by means of customized injection molds and state-of-the-art production processes.
Steadfast Capital is an independent private equity investment company focused on medium-sized companies in German-speaking Europe and the Benelux countries. Our funds invest in medium-sized companies and provide equity capital for business successions, management buy-outs and growth financing.
Steadfast Capital was founded in 2001 and has since pursued a successful, value-driven strategy of investing in profitable companies across a wide range of industries. Steadfast Capital Fund IV benefits from the financial support of the European Union under the European Fund for Strategic Investments (“EFSI”) established under the Investment Plan for Europe. The purpose of the EFSI is to support the financing and implementation of productive investments in the European Union and to ensure better access to finance.
Shearman & Sterling advised NATIONAL-BANK AG and Oldenburgische Landesbank Aktiengesellschaft (OLB) on the financing of the acquisition of BUK Group by Steadfast Capital.
NATIONAL-BANK AG is one of the leading independent regional banks in Germany for discerning private and corporate customers and medium-sized institutional investors.
OLB is a modern financial group that, in addition to its core business of retail and corporate customers, also offers customized, one-stop solutions for complex financial issues throughout Germany. She is a leading arranger in the German-speaking LBO market.
About Shearman & Sterling
Shearman & Sterling is an international law firm with 23 offices in 13 countries and approximately 850 lawyers. In Germany, Shearman & Sterling is represented at the Frankfurt office. The firm is one of the international market leaders in advising on complex cross-border transactions. Worldwide, Shearman & Sterling primarily advises international corporations and large national companies, financial institutions, and large mid-sized companies.