As of 3 April 2014, the Austrian "Ring" International Holding AG (RIH) is the new majority shareholder of Helios Domžale, d.d. Thus, the young industry group managed to acquire the first company from a long list of planned privatizations in Slovenia. With a total turnover of about EUR 450 million, a joint production capacity of almost 100,000 tons of liquid and powder coatings, and altogether 15 production sites, the group is among the top 10 European coatings producers.
The Helios group with headquarters in Slovenia (Domžale near Ljubljana) is one of the 15 largest coatings producers in Europe and, as of 3 April 2014, has a new majority shareholder: the Austrian Remho Beteiligungs GmbH, the parent company of the entire Coating Division of "Ring" International Holding AG (RIH). This step marks the completion of the sales process after 2.5 years. With the closing of 3 April, 77.93 % of the shares in the Slovenian coatings giant were transferred to the industry group; the members of the "selling consortium" received EUR 106 million (EUR 520 per share). Almost simultaneously, the public takeover bid for the remaining shares will be published and the bidding documents will be submitted to the authorities so that the takeover bid can be published as soon as possible and to protect minority shareholders. To finance the acquisition, RIH got two of the most renowned investment firms on board: the Blackstone subsidiary GSO and Franklin Templeton. Both were enchanted by the astonishing track record of the industrial group and fully trust the management team.
This is reconfirmed by the amazingly high performance of the RIH Coating Division in the first months of 2014. Against the general trend on the coatings market, the companies of the group did very well and will close the first quarter with a considerable increase in profits. Carried along by the extremely good performance of RIH, also the Helios group will end the first quarter with long-awaited record results after a disappointing year 2013.
After the closing, RIH expands to employ 3,600 staff who give their best every day and generate a joint turnover of about EUR 530 million. At 24 sites, about 100,000 tons of liquid and powder coatings are produced annually as well as 140,000 tons of resins and almost 110,000 tons of decorative coatings, and 30,000 tons of steel are processed. Thus the group is among the largest European coatings producers and also plays an important role on an international level.
The companies of the Stationery Division also successfully defend their leading positions and make the group market leader for lever arch mechanisms in Europe and the largest European ring binder mechanism producers.
For more information: www.ringholding.com