Gurit Holding AG (SWX:GUR) signed an agreement to acquire a 60% stake in Fiberline A/S from Thorning family for CHF 58 million on April 27, 2022. Approximately CHF 22 million of assumed gross debt for the Fiberline A/S. The Fiberline Composites operations will form a new Gurit business unit called Structural Profiles. Gurit has the right to purchase the remaining shares in the time period from FY 2024 to 2025, at pre-defined commercial terms. As of year ended December 31, 2021, Fiberline reported revenue of CHF 104 million. The transaction is expected to be closed before end of May 2022. Lasse Fredborg of BDO Statsautoriseret Revisionsaktieselskab acted as financial due diligence provider to Gurit Holding AG.
Gurit Holding AG (SWX:GUR) completed the acquisition of 60% stake in Fiberline A/S from Thorning family on May 5, 2022.