The Forest Stewardship Council (FSC) recently launched an ambitious new initia-tive to increase the...
The Carlyle Group to sell Klenk Holz AG
Global alternative asset manager The Carlyle Group and Binderholz GmbH have signed a definitive agreement under which Carlyle will sell Klenk Holz AG, a German manufacturer of wood products, to Binderholz GmbH, based in Fügen, Austria. The transaction is expected to close by the end of the year.
Equity for this investment came from Carlyle Strategic Partners (“CSP”) which manages more than $3 billion across three funds and focuses on middle market distressed and special situation investing. Since CSP’s investment in 2013, Klenk Holz AG has restructured its business activities and positioned the company for further growth.
Founded in 1904 by the Klenk family and headquartered in Oberrot, Germany, Klenk Holz AG employs around 1000 people at three sites across Germany. Amongst its products are sawn timber, solid wood panels, planed timber, multi-purpose panels, wood for landscaping, structural timber, presswood and residues. Its products are delivered to DIY stores, specialist retailers, the construction and prefab housing industry, the packaging industry and others. Klenk Holz exports 30% of its products and annually processes more than 2 million solid cubic metres of round wood.