LONDON, 29th May 2014: Metric Capital Partners (“MCP”), the European private capital group, is announcing its investment in HTI High Tech Industries AG (“HTI Group” or the “Company”).
HTI Group, listed on the mid market segment of the Vienna Stock Exchange and headquartered in St. Marien (Upper Austria), is an international technological manufacturing group, specialized in lightweight components in the fields of aluminium pressure die casting and plastic injection moulding. HTI Group is active at 4 locations in Austria and Slovakia and has close project partnerships and established business relations with customers across Europe.
MCP’s investment supports the recapitalisation of HTI Group, which was achieved in close cooperation with its existing financing partners who played a key role in the successful restructuring of the Company’s financial liabilities. Furthermore, MCP is highly supportive of HTI Group’s further growth and investment initiatives, which build on the Company’s product expertise and long-standing relationships with premium segment OEMs and their suppliers. MCP is entering the transaction together with ICS Partners, a specialised investment and management firm with leading expertise in the automotive and manufacturing sector.
John Sinik, Managing Partner of MCP, commented: “We are very pleased with the successful outcome of the refinancing of HTI and are confident that with the strong balance sheet provided by the new investment, the management team will have the necessary resources to re-align operations and start implementing growth initiatives.“
Peter Glatzmeier, CEO of HTI AG, further commented on the transaction: “The new investment and recapitalisation of HTI is a tremendous opportunity for us to re-focus the business on delivering industry leading lightweight products and service levels to our customers. The combination of financial and operational expertise of the investors offers a strong support base to execute on our future plans. ”
Commenting on the deal, David Scheurl, Partner of MCP, said: “MCP’s investment in HTI is the result of a complex financial restructuring agreement with the support of the financing banks who have shown their commitment to HTI. The transaction underlines MCP’s investment capabilities in the DACH region, following our recent investment in Leobersdorfer Maschinenfabrik.”
John Sinik and David Scheurl will represent MCP on the Supervisory Board of the company and Dr. Ingo Zemke will represent ICS Partners.
Launched in September 2011, MCP is an independent private capital group which invests in European small and medium-sized firms by providing debt and equity solutions to support the execution of strategic transactions including MBOs, MBIs, growth/development capital, refinancing and rescue financing.