Nanogate increases stake in HOLMENKOL
- The company aims to become the leading supplier of surface finishings for sports equipment
- New products outside the winter sports sector
Saarbrücken, 14 Dezember 2006. Nanogate AG (ISIN DE000A0JKHC9) is increasing its stake in HOLMENKOL Sport-Technologies GmbH & Co. KG by 5.1 percent to 30 percent. The consideration consists of a specific technology transfer by Nanogate and a low six-figure cash payment. Nanogate expects to make a significant contribution to the company’s growth in the mid-term. The goal is to develop HOLMENKOL into the leading provider of surface finishings for sports equipment.
HOLMENKOL is the oldest manufacturer of ski wax, with a legacy going back over 80 years, and as the technology leader supplies almost all of the national teams worldwide. Many athletes, world cup winners and ambitious amateurs rely on the company’s technology and products. Since Nanogate’s equity investment, Holmenkol has been pursuing an international growth strategy beyond the winter sports sector, supplying applications and products for numerous other sports, including sailing, cycling and golf. The target group covers professionals and performance athletes, but also leisure sports enthusiasts. Since Nanogate’s first investment in 2002 HOLMENKOL has almost doubled its turnover and plans further dynamic growth.
In future the company intends to branch out into new sports and extend its product range in particular in the growth markets for outdoor applications and in water sports. New products from the partnership with Nanogate are due on the market in 2007. As part of the new broader cooperation Nanogate will in future provide the company with intensified support in operational and strategic matters. In the mid-term HOLMENKOL aims to become the leading provider of products for enhancing the outer surfaces of sports equipment.
Ralf Zastrau, Chairman of the Management Board of Nanogate AG, said, “With this move we want to accelerate HOLMENKOL’s good progress. We are also executing the strategy we announced at IPO of expanding into attractive key markets and approaching new target groups by making targeted equity investments. HOLMENKOL is extremely well placed in the international market for surface finishings for sports equipment, so together we can develop new products and reach other types of sports and consumer groups. We can also use knowledge gained from high-performance sport, like minimising friction, for transforming other markets – such as engineering, textiles or automotive.” Nanogate intends to continue selectively supplementing its growth strategy by additional equity investments and joint ventures.
Christian Römlein, Managing Director of HOLMENKOL Sport-Technologies GmbH & Co. KG, commented, “Nanogate has years of experience in the development and realisation of innovative systems for high-performance surfaces and is a central partner in our technology network. HOLMENKOL and its products have already benefited from this expertise in many ways in the past and in the future we intend to expand our position in key markets even further.” The closer partnership with Nanogate is aimed at accelerating this targeted revenue growth.
