Blue Cap AG boosts Plastics Technology segment with the Hero Group and publishes outlook for the 2021 financial year

_The portfolio company plans to significantly expand its operations under the new owner

Munich, 29 January 2021 The listed company Blue Cap AG has acquired 71% of the shares in Hero GmbH (hereafter “Hero” or “Hero Group”) for a low two-digit-million figure. The plastics experts currently generate revenue of around EUR 40 million with more than 200 employees at four locations in Baden-Württemberg. The transaction is set to be completed in late February/early March and is subject to the approval of the German Federal Cartel Office. With Hero GmbH and the two subsidiaries ENGEL Formenbau und Spritzguss GmbH and H + E Automotive GmbH, Blue Cap AG is adding another investment in the Plastics Technology segment to its portfolio, increasing the number of companies under its umbrella to nine.

Hero develops and manufactures high-quality plastic parts and assemblies for vehicle interiors and the household appliance industry. As a specialist in (gas-assisted) injection moulding, Hero supports its customers on the path from the product idea to series production. Its product expertise ranges from simple plastic parts to complex assemblies featuring high-quality surfaces and an appealing feel. Its core competencies also include toolmaking and process development. Thanks to decades of experience, the Group has in-depth expertise in process technology. This also allows Hero to meet customers’ high complexity and quality requirements.

Phillip Bentzinger, Hero CEO: “A key factor for us in joining forces with this new owner was the continuation and acceleration of the company’s growth strategy. With Blue Cap AG we are gaining a strong partner that will support us in the next phase of our growth with its industry expertise.” Mr Bentzinger will continue to run the company as a managing partner with the existing team, ensuring continuity in the company’s management.

With Blue Cap’s support, Hero aims to drive its operations forward significantly over the coming years and expand its market position further. With this goal in mind, the Group will further intensify its sales activities in order to reach and surpass its pre-pandemic figures as quickly as possible. Alongside organic growth, Hero also has the option to grow heavily through acquisitions. Tobias Hoffmann-Becking, CIO of Blue Cap AG, is convinced of the company’s intact core business: “The Hero Group is involved in a long stretch of the value chain, from development to assembly, and has in-depth process knowledge in the field of plastics technology. This gives the Group significant competitive advantage and makes it an attractive supplier in a niche technological market that fits very well with our portfolio strategy. We are looking forward to working with the existing management team on advancing the company in an active and sustainable way.”

Through the acquisition of the majority shareholding in the Hero Group, a good half of the net proceeds from the sale of em-tec GmbH can be reinvested within one year. The Hero Group is much larger than em-tec, and so can expect to achieve a significant increase in its operating profit in the 2021 financial year. The Management Board of Blue Cap AG anticipates revenue of approximately EUR 260 million and an adjusted EBITDA margin of around 8% for the 2021 financial year. Both of these values reflect the current planning and are subject to possible further effects of the coronavirus pandemic and further M&A transactions.

Hello, my name is Lisa Marie Schraml

Investor Relations & Corporate Communications

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