09 / 06 / 2021
Egeria invests in Elastofirm to support its next growth phase
Amsterdam – June 9th, 2021 – The shareholders of Elastofirm have agreed to sell a majority stake to investment company Egeria. Existing shareholders and management will reinvest going forward.
Elastofirm has achieved strong growth in recent years through a successful buy-and-build strategy in the rubber market. Today, Elastofirm operates seven production sites in the Netherlands and Germany. Through its operating companies, the group provides customized compounds and tailor-made products to a broad range of loyal customers operating in various industries. In 2021, Elastofirm acquired Poppe Elastomertechnik GmbH (Germany) and a majority stake in QEW Engineered Rubber (Netherlands).
The investment by Egeria provides the company with the financial and operational support to continue its growth through international expansion and further acquisitions. Elastofirm’s inorganic growth strategy is focused around acquiring specialized companies active in the European rubber and plastics market.
Sander van Alphen, partner at Egeria: “We are impressed by the growth track record of Elastofirm and its operating companies. Through a combination of entrepreneurship, in-depth technical knowledge, customer intimacy and an efficient production setup, Elastofirm has built a strong market position in a fragmented market. We have a lot of confidence in the team and are excited to be able to support them in realizing the next growth phase of the business.”
Wim Noorlander, Elastofirm: “We are proud of Elastofirm and our employees that have contributed to the success of the group. Elastofirm has strong growth ambitions and we look forward to work together with Egeria to achieve these in the coming years.”
Elastofirm group consist of operating companies active in the compounding and processing of rubber. The group operates in total five production sites in the Netherlands (Lelystad (2x), Vaassen, Vorden and Hoogezand) and two in Germany (Giessen and Gelnhaussen). The operating companies in the group are Polycomp, Flevorubber compounding, QEW Engineered Rubber, Flevorubber Extrusie, Technische Profielen Produktie and Poppe Elastomertechnik. The Elastofirm group has been built over the last decade by the current shareholders through a successful buy-and-build strategy.
Established in 1997, Egeria is an independent Dutch investment company focused on medium-sized enterprises. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million. Egeria believes in building businesses jointly with enterprising management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 12 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 6 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ circa 12,000 people. Other activities include Egeria Real Estate Investments, Egeria Real Estate Development and Egeria Listed Investments. In 2018 Egeria launched Egeria Do, a corporate giving programme that supports projects in the world of art, culture and society, but also within its investee companies.