Penne brings on board Indufin
Indufin is to acquire a stake in Penne alongside BNP Paribas Fortis Private Equity with the ambition to help realise the company’s strong growth plans. As a vote of confidence in the company’s future, the Penne family will further strengthen its position by increasing its stake in the company. The transaction is yet to be approved by the Belgian competition authorities.
Penne is a leading supplier of solutions in the field of complex metal and plastic components. Its customers include international first-tier suppliers to the automotive and HVAC industries. Among other things, Penne produces wiper systems for cars and propellers for air conditioners.
In addition to being a global player, Penne is above all a family company with strong local roots. Based in Aalst, Belgium and led by the third generation, the company has always strived to keep production in its own country. Thanks to extensive automation and innovation, the company manages to be competitive with the manufacturing industry abroad, both in terms of quality and price. This strategy is now paying off, partly thanks to increasing demand for shorter supply chains and reshoring.
Penne realised a turnover of 36 million euros in 2022.
VDP stands for Value Driven People (VDP), is a leading Belgian corporate finance boutique that was founded in 1995. VDP has been successfully assisting its clients, companies and their current and future shareholders, in corporate finance projects such as: mergers & acquisitions, buy-outs and divestitures; public and private placements; financial and strategic advice. More specifically, we have been guiding companies through all stages of their growth path. VDPs expertise is based on a firm grasp on all the knowledge areas of corporate finance and years of experience in a wide range of industries and projects. The heart of our services is a personal and professional approach with a strong focus on result.