A group of industry experts and professional investors led by Invest Equity Management Consulting GmbH and INVEST AG agreed to acquire IKA Innovative Kunststoffaufbereitung GmbH & Co. KG from Floridienne S.A. (ENXTBR:FLOB) on August 31, 2020. After the transaction, Invest AG will own 46.75% of IKA, while Invest Equity will buy 33.77%. The buy-in management is holding nearly 19.48% of the shares in the IKA Group and is led by Alexander Hofer as Chief Executive Officer and Timo Seibel as Chief Technology Officer. IKA Innovative had sales of approximately €33 million. Reinhard Beck, co-founder of IKA and long-time managing director, will continue to support the new shareholders and the management for the next years as an advisor and Senior Vice President. The transaction is subject to the approval of the competition authorities. The transaction results in an accounting loss of around €1.5 million for the current financial year of the Floridienne Group. Christian Hoerner and Jacques Halpérin of Translink Corporate Finance acted as financial advisor to Floridienne. A group of industry experts and professional investors led by Invest Equity Management Consulting GmbH and INVEST AG completed the acquisition of IKA Innovative Kunststoffaufbereitung GmbH & Co. KG from Floridienne S.A. (ENXTBR:FLOB) on October 6, 2020.