The Global Mid-Market Specialist
Zurich, September 2016 – Alantra’s Swiss team acted as financial advisor to Looser Holding AFG on the announced merger with Swiss listed company AFG an agreement to acquire a 53% stake in Looser Group and a voluntary tender offer to all public shareholders under equal terms. The combination of the two companies will create one of the European leaders in Building Supplies, with combined revenues CHF 1.4bn (c. US$1.4bn) and an EBITDA of at least CHF 150mn (c. US$110) in 2018. The company will be the European leader in Windows and Doors production and a strong position in HVAC.
Looser is based in Arbon and, same as AFG, is active primarily in the building supplies and equipment industry, particularly in the doors sector, whereby the two companies complement one another optimally with regard to the product ranges and manufacturing sites.
The combination entails a cash and share offer for all free float shareholders of Looser and the upfront purchase of the shares of the Looser family and Looser BoD securing AFG Group a 53% majority at the outset. The offer represents an enterprise value for Looser of CHF 511mn (c. US$500mn), combined market cap stands at c. US$1.1 bn.
Alantra team: Martin Menzi, René Bernhard and Dave Weintraub.
To go to Looser’s and AFG’s joint press release, please click here.
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