Alantra advised Hangzhou Great Star Industrial on the acquisition of Joh. Friedrich Behrens AG

Apr 2021

Buy-side advisory

Frankfurt – Alantra, the independent global mid-market investment banking firm, has advised Hangzhou Great Star Industrial Co., Ltd. (“Great Star”) on the acquisition of certain assets and subsidiaries of Joh. Friedrich Behrens AG (“Behrens”).

Behrens is a listed manufacturer and distributor of pneumatic fastening tools and related accessories marketing its products under the BeA and KMR brands to industrial and trade customers. The company serves among others the packaging, furniture, construction, and automobile industries. Beyond Germany, Behrens operated fully owned subsidiaries and joint venture companies in 18 countries and generated annual sales of €120m with a staff of 450 in 2020. Behrens had to file for insolvency in November 2020 after failing to refinance an outstanding bond. Alantra advised Great Star in a combined asset and share deal including Behrens’ German operations and eleven foreign subsidiaries.

Shenzhen-listed Great Star is the leading Chinese hand tool manufacturer with approximately €1bn in sales. It forms part of one of the largest privately-owned industrial conglomerates in China, which also commands leading positions in auto tire and forklift manufacturing. The acquisition of Behrens through a subsidiary of Switzerland-based Great Star Europe AG expands Great Star’s footprint in Europe and adds another high-quality brand to its toolmaking portfolio.