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27 April 2015

Enterprise Investors sells NordGlass to AGC Automotive Europe

Warsaw, 27 April 2015 — Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Enterprise Investors, has signed an agreement to sell a 100% stake in NordGlass, the major Polish producer of windscreens for the automotive sector, to AGC Automotive Europe.

  • The transaction puts the enterprise value of NordGlass at EUR 80 million,
  • The deal is conditional upon obtaining antimonopoly approval.

PEF VI acquired NordGlass in 2007 in a proprietary transaction from the company founders. Since then, thanks to Enterprise Investors’ backing, the company underwent extensive modernization. Following investment in major capacity expansion and broadening of its product range NordGlass became one of the successful players on the European aftermarket. In 2014 NordGlass sold approx. 1.3 million windshields and generated EUR 78 million in revenues. The company employs more than 1,100 people in Europe.

“When we invested in NordGlass our goal was to facilitate the company’s seamless transition to the next stage of development. During our investment period, the company has grown from a privately held, medium-sized enterprise into a company with the European footprint. This significant transformation caught the eye of a global market participant that decided to further expand its operations in Europe,” said Jacek Woźniak, partner at Enterprise Investors, who is responsible for this transaction. “We believe NordGlass is well equipped to continue its successful development beyond our investment horizon,” he added.

AGC Automotive Europe, based in Louvain-la-Neuve (Belgium), is a member of AGC Glass Europe, which in turn is the European branch of AGC Group. The AGC Group, with Tokyo-based Asahi Glass Co., Ltd. at its core, is one of world’s major suppliers of flat, automotive and display glass, chemicals and other high-tech materials and components. AGC Automotive Europe specializes in production of windows (OEM and replacement) for vehicle manufacturer. For more information about AGC go to: www.agc-automotive.com (OEM), www.agc-arg.eu (ARG), www.agc-glass.eu (corporate site) or www.yourglass.com (glass for the construction industry).

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.6 billion in 133 companies across a range of sectors and exited 107 companies with total gross proceeds of almost EUR 2.2 billion.

For further information please contact:

Jacek Woźniak, Partner
Anna Czywczyńska, Public Relations Consultant
tel.: +48 22 458 8500
www.ei.com.pl