Direct Investment

NORD Holding comes to the aid of HATLAPA in HKSE Acquisition

07.04.2003

The HATLAPA Uetersener Maschinenfabrik, the German marine equipment manufacturer, (www.hatlapa.de) together with its partner Becker Marine Systems BMS (www.becker-marine-systems.com) has acquired several product lines from the UK's Hamworthy KSE. The acquisition was financed by NORD Holding acting as a new equity partner.

HATLAPA is one of the leading manufacturers of high quality ship winches, compressors and rudders. In recent years HATLAPA has evolved to become a global player in the ship building supplier segment due to a program of consistent manufacturing globalisation, expansion of its worldwide sales and support network and by nurturing and expanding its product range. In partnership with BMS both companies are able to offer complete rudder systems.

HATLAPA employs 225 people and achieved revenues of € 43 mil. in 2002. With an export share of more than 75% HATLAPA supplies all continents whereby the proportion of South East Asian customers is particularly high.

NORD Holding's silent partnership enabled HATLAPA and BMS to acquire the starting air compressors and rudder (Schilling rudders) production lines from Hamworthy KSE. In addition to broadening its access to former Commonwealth countries HATLAPA has strengthened its existing market position by acquiring the HKSE product lines and is now ranked amongst the top three international suppliers in the product segments for ship winches, compressors and rudder systems.

NORD Holding is one of the oldest and most renowned German private equity companies. By strengthening their equity capital it enables middle market companies to sustain growth. Its activities also focus on the structure and funding of succession profiles. In addition to NORD/LB shareholders in NORD Holding are the Bremer Landesbank (state bank) and a number of North German savings banks and public insurance companies. At present the company has investments in roughly 50 companies in Germany and German-speaking countries.

About NORD Holding

With its 50-year history and over € 2.0 billion Assets under Management, NORD Holding is one of the leading Private Equity Asset Managers in Germany with a focus on direct and fund investments.

The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.

The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.

NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.

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