Proventis Partners advised the FoamPartner Group

Conzzeta Group, Switzerland, acquired Otto Bock Kunststoff, domiciled in Duderstadt, Lower Saxony (Germany), for its division FoamPartner. Otto Bock Kunststoff generated net revenue of around EUR 130 million with a profitability that was above-average for Conzzeta. The number of employees at the end of 2016 was around 430 worldwide. otto Bock Kunststoff mainly comprises foams used in the automotive industry as interior linings for vehicles. The production sites taken over in Duderstadt (Germany), Rochester Hills (MI, USA) and Changzhou (China) complemented the existing FoamPartner production sites and broadened the company’s footprint in the designated growth regions.

Proventis Partners supported the Conzzeta Group and the FoamPartner Division with the carve-out of Otto Bock Kunststoff from the Otto Bock Group and with the post-merger integration into the FoamPartner Division. This encompassed all aspects from technical carve-out questions to personnel and management questions to the planning and implementation of synergies in the business plan.