Dutch Buyout Specialists Eyeing Nedschroef

John Wolz

Automotive fastener manufacturer and fastener machine maker Royal Nedschroef Holding is considering a bid for its stock by another Dutch company, Gilde Buy Out Partners BV. Gilde offered a non-binding interest in a potential public bid for all Nedschroef shares at 7 Euro (US$9.03) per share.

Nedschroef management will conduct a study to determine if the bid would be in the best interest of shareholders. Nedschroef will hire financial and legal consultants and the study could take several months.

Founded in 1894 to produce rivets for ships, today Nedschroef produces automotive fasteners at plants in the Netherlands, Germany, Denmark and South Africa and fastener machinery and tooling.

Nedschroef is a public company listed on Euronext Amsterdam. The Nedschroef group includes 21 companies in 11 countries with fasteners accounting for more than 90% of sales. The fastener division reports a 13% share of the Western European automotive fattener market and the machine division a 15% share of the global market.

In 2001 Nedschroef announced a strategy for recovery in 2002-03, reshaping in 2004-05 and expanding beginning in 2006. Nedschroef targeted 2008 sales of Euro 600 million (US$ 776m) and a ratio of operating results to net turnover of 7% and ratio of invested capital to net turnover of 35%. Web: nedschroef.nl
Gilde is a global private equity investor with Euro 1.5 billion (US$1.9b) under management. Founded in 1982, Gilde has invested in more than 200 companies. Netherlands-based Gilde has offices in Switzerland and France and specializes in “buy and build” deals in continental Europe. Web: gilde.nl
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