AXA Stenman Changes Financial Structure
VEENENDAAL, the Netherlands – Private equity firm Bencis Capital and AXAs management have gained 100% of AXA Stenmans shares. Among the selling shareholders were Friesland Bank Participates and investment fund Todlin of a private investor Frederik van Beuningen. The management team, supported by Bencis, will
VEENENDAAL, the Netherlands – Private equity firm Bencis Capital and AXA’s management have gained 100% of AXA Stenman’s shares. Among the selling shareholders were Friesland Bank Participaties and investment fund Todlin of Frederik van Beuningen.
The management team, supported by Bencis, will continue its current strategy of further expansion by growth as well as acquisitions.
“This new situation is the result of the agreement made with mayor stock holders during the delisting from the Amsterdam stock exchange in 2003”, says Cees Oosterhoorn CEO AXA Stenman. “We have found private equity firm Bencis to meet this agreement, while the management participation has been enlarged as well. The board of directors has been extended with one member of Bencis. This new financial structure makes it much easier for us to respond quickly on market developments, for example with acquisitions.”
Currently AXA Stenman employees 450 people and manufactures metal products divided into two ranges: builders hardware & bicycle accessories. The builders hardware range includes products such as hinges, casement stays & door locks. Bicycle accessories include ring, U-bar & cable locks and lighting equipment such as dynamos, front lights & electronic rear lights. The company has production facilities in the Netherlands & Poland.
Bencis Capital invests in solid companies in various industries that are led by strong and ambitious management teams. The companies have leading positions in their respective markets and are well positioned for further (international) expansion.