Cathay Capital supports the Caillau-AdiWatt Group in the acquisition of a majority stake in B&K Solar
March 11, 2024
Europe
Paris, March XX, 2024 – A portfolio company of Cathay Capital since 2018, Caillau is a world leader in the design, manufacture and marketing of fastening and sealing systems for automotive and aerospace manufacturers industries. Following the acquisition of AdiWatt in 2021, which is entirely dedicated to photovoltaic energy, the announcement of this majority stake acquisition in B&K Solar allows the Group to intensify its growth and diversification strategy in the solar sector in Europe with the financial and operational support of the Cathay Capital teams.
The Caillau Group is a world leader in the design, manufacture and marketing of fastening and sealing systems for automotive and aerospace manufacturers industries. With a workforce of around 600, state-of-the-art production facilities in Romorantin (France), and subsidiaries in China, the USA and Brazil, the century-old Caillau Group has been developing high-tech and mission critical products for decades. The long-standing confidence of European automakers and automotive suppliers, combined with market penetration with new players, particularly from Asia, have enabled the Caillau Group to record strong growth over the last 15 years, reaching sales of c. 150 million euros in 2023.
B&K was founded in 2012 and specializes in versatile solutions for a wide array of roofing applications. Built on a foundation of proactive customer service, B&K provides safe, light and adaptable mounting systems produced in Gütersloh, Germany and Pęgów, Poland. These two entities employed more than 20 employees in 2023. Post-operation, Solar business unit consolidated sales exceed 50 million euros in 2023.
Commenting on the new collaboration, co-founders Patrick Behnke and Martin Kisiel said: “We are thrilled with this partnership. It’s a significant milestone for us and we are confident that we have found the right industry ally, with a strong industrial know-how, significant R&D capabilities, commercial and industrial network. Their expertise and products portfolio complements our innovative spirit and together we will reach new markets and generate significant synergies for both entities”.
For Stéphane Drivon, Chairman of the Group, “the acquisition of AdiWatt in 2021 marked an important step in Caillau’s growth and diversification strategy, as we gained a foothold in a forward-looking industry that leverages the Group’s industrial, technological and product know-how. While we are determined to remain a major player in the field of mobility, through our Automotive and Aerospace Business Units, this acquisition enabled the Group to create a complementary “Solar” Business Unit. Our ambition is to play a key role in the consolidation of European market in the field of high value-added fastening systems”.
“We are proud to have supported the Caillau-AdiWatt Group and its management team since our investment in 2018. This century-old company has experienced remarkable internationalization and a strong growth dynamic in recent years, marked in particular by sustained development in Asia and a positioning on the photovoltaic market. This diversification dynamic, which began with the acquisition of AdiWatt in 2021, continues today with the majority stake acquisition in B&K Solar, opening up significant development prospects for Caillau in Europe, at a time when the decarbonization of energy production is at the heart of concerns,” said Jeremie Falzone at Cathay Capital.
About Caillau-AdiWatt
The Caillau Group is a world leader in the design, manufacture and marketing of fastening and sealing systems for automotive and aerospace manufacturers industries. With a workforce of around 600, state-of-the-art production facilities in Romorantin (France), and subsidiaries in China, the USA and Brazil, the century-old Caillau Group has been developing high-tech and mission critical products for decades.
For more information visit: www.caillau.com/
About B&K Solar
B&K was founded in 2012 and specializes in versatile solutions for a wide array of roofing applications. Built on a foundation of proactive customer service, B&K provides safe, light and adaptable mounting systems produced in Gütersloh, Germany and Pęgów, Poland.
For more information visit: www.bksolarezukunft.de/
About Cathay Capital
Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $5B in assets, has completed over 260 buyouts, growth and venture capital investments with the global reach and local expertise from offices in Paris, Munich, Berlin, New York, San Francico, Shanghai, Beijing, Shenzhen and Singapore. For more information, please visit www.cathaycapital.com and follow us on LinkedIn, Twitter @CathayCapital