AXA Stenman Acquired by Gilde Buy Out Partners
VEENENDAAL, the Netherlands – The manufacturer of bicycle locks, bicycle lighting and chain guards Axa Stenman who runs factories in the Netherlands, France and Poland has been sold to Gilde Buy Out Partners last week. The acquisition will not lead to job losses or a large-scale reorganization of the company.
Gilde Buy Out Partners is no stranger to the bicycle industry since the company was the owner of bike maker Gazelle before Pon Holdings took over the Royal Dutch bicycle factory in June 2011. But earlier Gilde Buy Out Partners was also involved in Axa Stenman. They owned Axa Stenman before the IPO in 1998.
Up to 2004, Axa was listed on the Amsterdam Stock Exchange. From 2007 Axa was owned by the private equity firm Bencis Capital Partners. Last year new management implemented a reorganization of the international management, the market position of the two business units bicycle components and window/door components, the products range and size of the Dutch workforce.
In the press release Axa Stenman states that: “Many business processes have been adapted positively, the company is growing and financially healthy.” Axa Stenman CEO Harry Smeets said about the acquisition by Gilde: “We are pleased that Gilde is the new shareholder because they believe, just like us, that a growing company is much more fun than an organization that stabilizes or even shrinks. The brand Axa has an incredible market potential which we are opening up now.”
The Axa Stenman Group
Axa Stenman Group has two divisions. Axa Home Security manufactures and sells a wide range of window and door components for the professional market particularly in the Netherlands, Poland and Germany. Axa Bike Security manufactures and sells bicycle locks, bicycle lighting and chain guards in more than 10 countries. The company runs factories in the Netherlands, France and Poland and is working with several sales offices in Europe.