Private Assets SE & Co. KGaA submits binding offer for takeover of French iron foundry Fonderie de Bretagne

Hamburg, 25 July 2024 - Private Assets SE & Co. KGaA (Private Assets) has submitted a binding offer, subject to various conditions precedent, for the acquisition of the French iron foundry Fonderie de Bretagne (FdB). Callista Private Equity (Callista), the previous owner of Fonderie de Bretagne, has already agreed to the offer. Negotiations are currently underway to finalise the details of the transaction and the conditions precedent. This process is expected to be completed by the beginning of September.

Fonderie de Bretagne is a leading iron foundry and, as a tier 1 supplier, currently supplies the automotive industry in particular with safety-relevant parts such as differential housings.

The company, based in Caudan, France, was founded in 1965 and currently employs over 300 people. The Renault Group is its largest customer and was a shareholder of FdB until 2022.

In line with the strategic plans of FdB and its previous owners Callista and the Renault Group, Private Assets aims to diversify FdB's production, modernise its industrial facilities and improve its performance through the acquisition. For Private Assets, FdB is an extension of the existing European foundry group. The other companies are the German company Procast Guss and the Spanish subsidiary Procast Espana. Procast Guss has a production capacity of 55,000 tonnes.

Sven Dübbers, CEO of Private Assets SE & Co. KGaA, explains: ‘We regard Fonderie de Bretagne as an ideal partner and strategic asset for our growth strategy due to its high-quality products. By integrating FdB into our existing portfolio, it will become an integral part of our rapidly growing European iron foundry group. This will enable us to realise considerable synergy potential in the future and to be present in diversified markets.’

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About Private Assets SE & Co. KGaA

Private Assets SE & Co. KGaA (Private Assets) is a Hamburg-based investment company specializing in the majority takeover of companies in special situations. Private Assets prefers to invest in corporate spin-offs and medium-sized companies that are currently underperforming as well as companies with unresolved succession issues. Thanks to the management's many years of experience and a proven track record in the development of companies in special situations, the investments are efficiently and sustainably profitable. To ensure the necessary rapid implementation, the company has its own task force, which provides operational support as in-house consulting in areas such as product supply, project management, sales & marketing, legal and finance and explicitly promotes digitalization topics with the Digital Group. Thanks to the close operational support and active management provided by the shareholders, Private Assets SE & Co. KGaA achieves rapid, efficient and sustainable changes in its investments.

The shares of Private Assets SE & Co. KGaA are traded on the open market of the Berlin Stock Exchange under the securities identification number A3H223. Further information can be found at www.private-assets.

Contact Investor Relations

edicto GmbH
Dr. Sönke Knop / Jessica Pommer
Phone +49(0)69/90550551
E-Mail: PrivateAssets@edicto.de