Hamburg, 10 Juli 2023. The German investment company “Private Assets AG” has expanded its business to other European markets: On 10 July 2023 Private Assets CEO Sven Dübbers signed a purchase agreement for the Spanish foundry “Fundiciones Garbi, S.A.”. Private Assets AG takes over the entire business operations of the foundry company including all approximately 80 employees.
Fundiciones Garbi, S.A. www.fundicionesgarbi.es is a foundry operating throughout Europe. The company is based in Abadiño, near Bilbao (northern Spain), one of the industrial centers on the Iberian Peninsula. The company has a production capacity of 20,000 tons per year. Fundiciones Garbi’s customers come from various key industries, including wind turbines, wagon construction, mechanical engineering, toolmaking and engine manufacturing.
Private Assets AG is now integrating the business operations of Fundiciones Garbi into its existing foundry group “Procast”, which is already operating successfully in the European market. There, the newly acquired foundry will operate as “Procast Guss Espana S.L.” in the future. “Garbi is an ideal addition to our existing foundry group,” emphasized Private Assets CEO Sven Dübbers after signing the purchase agreement. “It fits very well with the requirements of our customers, both in terms of the range of services and the technical equipment.”
“With Private Assets AG and the Procast Group, we are pleased to have won a great partner for the further development of our company and its site in the Basque Country,” added Murli Bhamidipati, Managing Director of Fundiciones Garbi, S.A. “The Procast Group’s established client base and market access will allow us to further expand our revenue and achieve industry diversification among our clients.”
Private Assets is a Hamburg-based investment company specialising in investments by medium-sized companies in particular situations. The shares are traded on the over-the-counter market of the Berlin Stock Exchange under the securities identification number A3H223. As a partner to small and medium-sized enterprises, Private Assets AG specialises in the strategic investment of medium-sized companies in situations of upheaval. In the past two years, Private Assets AG has achieved 1st and 2nd place in the small and micro-caps category in the ranking compiled by the industry magazine “Smart Investor,” thereby making it a top performer.
Private Assets AG recently published its consolidated results for the 2022 financial year. Annualised consolidated sales amounted to EUR 158.2 million (previous year: EUR 82.4 million). Total Group EBITDA amounted to EUR 12.6 million in 2022 (previous year: EUR 7.1 million). The complete annual report can be downloaded at the following link:
https://www.private-assets.de/investor-relation/geschaftsberichte-jahresabschlusse
About Private Assets AG
Private Assets is a Hamburg-based investment company specialising in corporate investments in particular situations. The shares are traded on the over-the-counter market of the Berlin Stock Exchange under the securities identification number A3H223. Private Assets invests in corporate spin-offs and medium-sized companies with below-average performance today. Another focus of investment is on companies with unresolved succession issues. The management of Private Assets has many years of experience and a proven track record in investments in particular situations. For the necessary rapid implementation, the company has its own task force and a well-rehearsed team with in-house experience in areas such as product supply, project management, sales and marketing, law and finance. Private Assets AG is one of the few investment companies that maintains its own digital group, thereby explicitly promoting the advancement of digitisation subjects. Through close operational support and active management on the part of the shareholders, Private Assets AG achieves fast, efficient and sustainable changes in its investments.
