WL Ross & Co buys out BST Safety Textiles from PPM
14 Sep '06
3 min read
A mid-market private equity specialist PPM Capital has announced the sale of airbag manufacturer BST Safety Textiles to WL Ross & Co LLC. The sale is subject to competition clearances.
BST Safety Textiles (BST), headquartered in Maulburg near Lörrach (Baden-Württemberg), is one of the leading companies in the worldwide market for the development and manufacturing of fabrics for the automotive airbag segment as well as for seatbelts and commercial webbing in North America. BST employs some 1,250 personnel around the world and is expected to generate revenues of approx. € 220 million in the current year.
WL Ross & Co. LLC was formed in April 2000 by Wilbur Ross, Jr. and today manages over $ 3,5 billion in private equity funds. WL Ross has investments in the steel, textile, coal, automotive and financial services industries worldwide.
Their portfolio investments in the textile and automotive industries include International Textile Group Inc, a global, diversified provider of fabrics and textile solutions; Safety Components International, Inc (SCI), a leading low-cost, independent supplier of high quality automotive airbag fabric and airbag cushions for automotive airbag modules, with operations in North America, Europe, South Africa and China.
BST as the leading independent airbag weaver will contribute to WL Ross' Automotive Safety Components Activities and would especially further strengthen SCI as the largest independent airbag confectionary business. Both companies are market leaders in their respective segments.
marketing@alchempro.com
