Nanogate Formally Closes Deal for Takeover of Eurogard B.V.
News Jul 22, 2011
Nanogate AG has successfully closed the deal to take over the Dutch company Eurogard B.V. Nanogate and Eurogard aim above all to achieve growth together by expanding international business further, developing new applications and acquiring new customers.
Nanogate expects to increase Group sales in the 2011 financial year to more than EUR 30 million and record an EBITDA margin of at least 10 %.
Eurogard specialises in enhancing surfaces on two-dimensional components and is the global market leader in the lucrative specialist sector of coating transparent plastics. In the 2010 financial year, the company’s sales were in the high single-digit millions and its EBITDA yield was in double figures.
Eurogard is free from debt and generates a positive free cash flow. Its operating business is concentrated on the buildings/interiors, aviation, and automotive/mechanical engineering sectors.
Eurogard coatings can be used on aircraft windows, utility vehicles, building elements and ski goggles, for example. Nanogate expects the new company to be fully integrated in the third quarter of 2011.
Ralf Zastrau, CEO of Nanogate AG, commented: “Nanogate’s equity holdings in Eurogard B.V. and GfO AG put the company in an excellent strategic position. We offer a unique and complete technology portfolio with a broad range of applications. In addition to this, Nanogate covers the entire value chain like no other company - from materials expertise to process integration, right through to mass production. In operational and strategic terms, Nanogate is well positioned to grow faster than the market for surface coatings. Our aim is to significantly expand our market share.”