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Sale of Industrielack Group (Ilag) to Helvetica Capital AG
Arbon (ots) - Arbon, 27 June 2017 - Arbonia AG has sold the last company within the Coatings business unit. Swiss investment company Helvetica Capital AG (Helvetica) is acquiring the Industrielack Group (Ilag) retrospectively, as of 1 January 2017. The sale to such an investor, with an entrepreneurial mind-set, takes Ilag into a secure future.
Through the sale to Helvetica, Ilag will have the opportunity to grow its portfolio while benefiting from the network and thereby strengthen its market position. Thanks to Helvetica's active operational and strategical approaches, as well as the introduction of relevant expertise, the sustainable and long-term development of Ilag will be secured. The employment contracts of the 125 employees have been transferred.
Headquartered in Zürich, Helvetica Capital AG was founded in August 2015, and is an entrepreneurially-minded investor focussing on Swiss SME. This investment firm specifically aims to sustainably promote Swiss companies. As such, Helvetica guarantees Ilag an active, long-term, and independent progression.
Having successfully completed this transaction, Arbonia AG has achieved the sales goals for the entire heterogeneous Coatings business unit of Looser Holding AG. The sale of individual companies exceeded the sales price anticipated by the former Looser management: a total of CHF 116 million was achieved in company value. These proceeds will be used to reduce the net indebtedness of Arbonia AG. The sale of the Coatings business unit is thus finalised with the last closing on 26 June 2017.
Further information about Arbonia can be found on the website: www.arbonia.com
Alexander von Witzleben
Chairman of the Board of Directors and CEO
Delegate of the Board of Directors of Looser
T +41 71 447 48 32
Head of Corporate Communications
T +41 71 447 45 54