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The acquisition facilitates a recapitalization of the business through a
significant reduction of the debt and access to new money for growth.
The investment by KKR has been made through investment funds managed by KAM Special Situations, which makes strategic, long-term investments in good companies whose capital structure is under pressure and whereby resources are provided to build a sustainable capital structure and improve operations with a focus on growth.
Yves Barraquand, Chairman and CEO of Winoa, said: "I am pleased to announce Winoa's partnership with a highly reputable international investor such as KKR. This solution is really good news for Winoa and our employees. It provides a stable financial structure, additional funding to realise our growth plans and a clear governance structure centred around a committed and experienced investor."
Jacques Garaialde, Member and head of KKR operations in
The closing of this transaction remains subject to approval by the authorities.
Founded in 1976 and led by
About KKR Asset Management:
Launched by KKR in 2004, KAM invests on behalf of its managed funds,
clients and accounts across long/short equities and the corporate credit
spectrum, including secured credit, bank loans and high yield securities
and alternative assets such as mezzanine financing, special situations
investing and structured finance. With more than 100 employees,
including 50 investment professionals, KAM's investment teams are
closely aligned with KKR's wealth of private equity investment and
industry resources. KAM has
For additional information, please visit KKR's website at www.kkr.com.
Winoa, founded in 1961 under the name Wheelabrator Allevard through a
joint venture between a subsidiary of the French group Wendel and the US
The mission of Winoa is to provide easy-to-use, cost-effective and environmentally—friendly solutions on a worldwide basis for the treatment or transformation of metal surfaces (cleaning, preparation and strengthening), and for the cutting of stone. Buoyed by an active policy of organic growth and strategic buy-outs, Winoa quickly rose to become the world's leading name for the production of steel shot and related services, commercialized primarily under the label W Abrasives. The Group has also developed Phenics, a groundbreaking on-site treatment process for metal structures.
The main market outlets are, amongst others, the automotive, steel and
construction industries, all highly exposed to the current economic
downturn. Since the recession of 2008 and a slow-down in demand across
* As at
- Revenues of €370 million
- EBITDA: €50 million
- 1,077 employees, of whom 15% in
- 12 plants on 4 continents and 5 testing and research facilities
- 80 sales offices and depots in 30 countries
- 240 agents and distributors and 10,000 direct customers
For additional information, please visit: www.winoagroup.com
+44 207 251 3801
+33 1 53 70 74 93
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