GermanCapital buys into Germany’s leading kitchen manufacturer ALNO AG

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- GermanCapital acquires Commerzbank stake in ALNO AG  - Voluntary tender offer to all shareholders, priced at EUR 7.20 per share - GermanCapital and Hellwig family will combine stakes to hold over 45 percent of the ALNO shares in joint bidding company - Strategy aims at sustainable, profitable growth, under existing management

Munich, 16 October 2006. Bidding company K√ľchen Holding GmbH will combine ALNO stakes of funds advised by Munich-based investment company GermanCapital and the Hellwig family to own over 45 percent of ALNO AG. K√ľchen Holding GmbH announces a voluntary tender offer to all shareholders priced at EUR 7.20 per share. The bidding company aims at a simple majority stake, in order to further develop ALNO¬īs potential and give the company sustainable support with a long-term entrepreneurial approach.

Upon foundation of K√ľchen Holding GmbH by GermanCapital, the bidding company agreed to acquire 20.6 percent of ALNO from Commerzbank AG.

The strategic investor Whirlpool, holding a 25.6 percent stake in ALNO, has also welcomed the announcement and will support K√ľchen Holding GmbH by granting all voting rights for its stake. "With GermanCapital, ALNO gains an investor with industry experience that is well placed to support current management with financing know-how and capital", said Dr. Marc Bitzer, President of Whirlpool Europe.

"ALNO AG is a well-established company with a first-class brand. In cooperation with the Hellwig family and the strategic investor Whirlpool, we support the set restructuring course and the strategy chosen by current management. As a shareholder, GermanCapital will support the company¬ís future growth - if required with the necessary funding", said Dr. J√ľrgen Diegruber, Partner at GermanCapital.

With sales of EUR 613 million in 2005 and approximately 2.700 employees, ALNO is the second largest kitchen manufacturer worldwide and market leader in Germany. After successful initial restructuring steps, the main strategic focus of the company lies in further efficiency improvements and international expansion.

At EUR 7.20 per share, the offered price comprises a premium of 13 percent on the average price of the preceding six months. "This offer underlines our long-term confidence in ALNO¬īs business model and growth perspective", said Diegruber.

The offering document for the voluntary public tender offer will be published on after authorization by German regulator Bundesanstalt f√ľr Finanzdienstleistungsaufsicht (BaFin).

These transactions are conditional, amongst others, upon receipt of customary regulatory approvals.

GermanCapital GermanCapital is a Munich-based investment company. Together, GermanCapital partners combine significant experience in investment, corporate finance, business consultancy and industry. GermanCapital pursues long-term investments in mainly medium-sized companies through a variety of financial instruments. The company advises a fund volume of EUR 150 million.

Press contact: Max Hohenberg +49 (89) 599.458.132

Important information: This announcement does not constitute an offer to buy or a solicitation to sell ALNO AG securities. The terms of the offer and other representations regarding the offer will be published in the offering document after authorization of publication by BaFin.

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ots Originaltext: GermanCapital GmbH
Im Internet recherchierbar:

Further inquiry note:
Herr Max Hohenberg
Tel. +49(0)89 599458-132
Fax: +49(0)89 599458-100

Branche: Technology
ISIN:      Keine ISIN
WKN:        No-WKN
B√∂rsen:  Frankfurter Wertpapierb√∂rse / official dealing

Weitere Meldungen: GermanCapital

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