Financing of the acquisition of automotive supplier Aksys

Novum Capital arranges financing for the acquisition of the dampening solutions business of automotive supplier Aksys by Michael Faist

Michael Faist, former majority shareholder of German automotive supplier Aksys, has together with a business partner taken over the dampening solutions business of the insolvent Aksys GmbH.

The dampening solutions business consists of Aksys' facilities in Worms and Frankfurt as well as the sites in Poland, Spain and the USA. The business has nearly 700 employees and supplies the automotive, white goods and construction industries with innovative dampening foils and compounds for the dampening of noise and impact sound oscillations. With a market share of 50% and sales in 2009 of €104 million this business is market leader in Europe.

Building on the existing market leadership, Michael Faist intends to further expand activities and sales not only in the automotive sector but first and foremost in the white goods industry, general industry and construction industry through new customers and applications.

Novum Capital, a financing specialist for mezzanine and subordinated capital, has arranged the financing of this acquisition for Michael Faist. Given the present conditions in the global financial markets, the weak automotive sector environment and the insolvency of the Aksys group, the speedy arrangement of the financing for this transaction was essential to its success.