Private equity firm Gimv acquires a majority stake in the Alro Group, a Dilsen-Stokkem – Belgium-based specialist in industrial coating of car and truck parts, in a family succession context.
Gimv takes over the majority stake from the founding Thijs family. Current management remains on board and reinvests to further support the company’s growth.
Gimv’s investment is intended to allow the company to realize its growth ambitions and to support management in the further professionalization of the group.
The transaction, of undisclosed amount, is subject to the usual conditions, including approval by the competition authorities.
Founded in 1976 by the Thijs family and led by Jan Craenen, CEO, The Alro Group has grown from a small coating company to a large group with several branches in Western and Central Europe, specialized in coating of plastic and metal parts for the automotive sector.
Around 1,000 employees process over 100,000 products daily on more than 20 modern coating installations using data-driven processes.
The group recently also developed an innovative solution for coating the battery housings of electric cars.
Alro’s broad customer base includes just about every well-known name in the car and truck industry.