Gimv is acquiring a majority stake in ALT Technologies, a leading supplier of airbag components

28-03-2017 17:45

Along with the management, Gimv is taking over Dutch ALT Technologies from Standard Investment, which has held a majority stake since 2011. Gimv is acquiring a 67% stake, while the balance will be held by the company's management team under the leadership of CEO Jean-Luc Verstraeten. ALT Technologies has ambitious plans for growth in Asia and the United States over the coming years.

ALT Technologies (www.alttechnologies.com) was incorporated in 1935 and is a leading producer of key airbag components (with a focus on covers, wraps and seals). The company supplies almost all major airbag producers and has multi-annual contracts with them. This means that ALT products can be found in almost all well-known car brands across the globe. As well as airbag components, ALT also produces labels for both cars and electronic equipment.

The airbag market is expected to see a strong growth over the coming years. On the one hand, this growth is driven by increasing regulations in emerging markets, tightening safety regulations for new vehicles. On the other hand, consumers in more mature markets are becoming increasingly aware of safety aspects. This has resulted in a higher average number of airbags per vehicle.

ALT has its head office is in the Netherlands (Utrecht), factories in Romania and China and a sales office in the United States. ALT Technologies employs a total of 330 employees worldwide. In the coming years, the company intends to increase its growth in China and expand its activities in the United States.

Jean-Luc Verstraeten, CEO of ALT Technologies, explains: "This transaction is the first step in our company's next growth phase. Both myself and the entire management team are looking forward to working with the Gimv Smart Industries team."

"We're delighted that we can use our expertise in the automotive industry, built up over many years with earlier investments in VCST, Punch Powertrain, Mackevision and Arplas, to help ALT Technologies' international growth," adds Sander van Vreumingen, Partner in the Gimv Smart Industries Platform.

No further financial details of the transaction have been announced.

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