Nanogate acquires 75 % of shares in plastics specialist Goletz and achieves more growth

Nanogate acquires 75 % of shares in plastics specialist Goletz and achieves more growth Group sales on course to exceed the 100-million mark in 2016 - Acquisition expands system expertise at Nanogate 14 April 2016. Nanogate AG, a leading international integrated systems provider for high-performance surfaces, is continuing its dynamic growth course. The Group has acquired 75 % of shares in plastics specialist Walter Goletz GmbH and is therefore likely to exceed its medium-term sales target of EUR 100 million in 2016. The acquisition means Nanogate is expanding its system expertise in the development and production of plastic components. The majority acquisition of plastics specialist Walter Goletz GmbH expands system expertise at Nanogate in the area of high-demand plastic components. Nanogate will in future be covering all competencies regarding development and production, as well as the multifunctional enhancement, of components. This means the Group is also significantly expanding its range of services. The new equity holding has a strong market position especially in smaller and midsize, design-oriented plastic components, while Nanogate has until now been specialised in larger components, for example, for the automotive industry, with its existing subsidiary Plastic-Design. Goletz also has expertise in metallisation and surface enhancement and works, among other things, in construction with technologically leading CAD standards. Goletz supplies customers in the automotive, electronics and domestic appliances industries. In parallel, Goletz is represented in medical technology applications via a subsidiary and has relevant certifications and manufacturing systems, for example, in clean room. The company, based in Kierspe, Germany, which is located close to the Nanogate subsidiary Vogler (Lüdenscheid, North Rhine-Westphalia), was founded in 1969 and currently has around 130 employees. Both existing managing directors at Goletz will continue to manage the company going forward. As with its other equity holdings, Nanogate will install an advisory board. The company is striving to achieve sales above EUR 15 million and turn a profit in the 2016 financial year. As with previous acquisitions, Nanogate will be further developing its new equity holding as part of the integration, gradually optimising the existing order and product mix at Goletz in order to generate synergies at Group level. The purchase price includes a performance-linked pricing structure and will be paid out in several tranches over the coming years. Nanogate can also acquire the outstanding shares as part of this graduated pricing model. Some of the purchase price will be paid in shares (from a capital increase by contribution in kind). Nanogate is reviewing several options for the medium-term refinancing of the cash component. Confidentiality has been agreed upon concerning the amount of the purchase price. Nanogate expects the transaction to conclude by this summer and for the company to be completely consolidated at this point.