GERMANY-headquartered Anvis, maker of highly engineered anti-vibration products for automobile applications will be taken over by Tokai Rubber Industries after the latter has completed the sales with H.I.G. Europe, the European arm of global private-equity company H.I.G. Capital.
In 2010, H.I.G. Europe acquired Anvis and joined forces with the incumbent CEO Olaf Hahn to carry out a systematic process of advancement. This team succeeded in increasing the annual sales generated by the company to more than EUR300 million. Anvis Group has currently some 2000 employees and operates in nine countries at a total of 13 locations.
“As proactive members of the Advisory Board, H.I.G. Europe’s representatives provided the management of Anvis Group with a wide range of insightful and valuable advice. This constructively enabled management to optimise the company’s structures and processes to accelerate growth and to strengthen the earnings power,” commented Olaf Hahn, who will continue to act as the company’s CEO in the TRI Group. “Tokai Rubber Industries is the optimum strategic partner, which will enable Anvis to achieve a new level of global reach sooner rather than later. The two companies are perfectly complementary as far as product know-how and geographical positioning,” added Wolfgang Biedermann, Managing Director of H.I.G. Europe.
Anvis’s long standing network with automobile manufacturers (OEMs) in Europe is expected to provide support to Tokai Rubber Industries in acquiring new customers on the continent and increasing the rate of growth. At the same time, TRI will be able to access the capacities of Anvis in Europe for supplying its existing Japanese customer base. TRI will also derive significant benefit from expertise at Anvis in the development and manufacture of anti-vibration systems for compact and medium-sized vehicles, according to the deal’s latest press release.