Successful sale of Alro Group to Gimv

Kumulus Partners acted as exclusive financial adviser to the shareholders of Alro Group in the sale of the company to Gimv and management.

Luc Thijs, who founded Alro Group in 1976, decided to sell his 90% holding in the group, in the absence of any family succession. Alro’s management, holding the remainder of the shares, expressed a strong preference to further develop Alro as an independent European coating specialist and partner of choice for OEM truck and car manufacturers. It was therefore decided to reach out to a select number of private equity investors with relevant automotive experience to take control of Alro alongside management.

Kumulus Partners first conducted a comprehensive analysis of Alro’s strengths and needs, and coordinated vendor due diligence efforts. Kumulus Partners then led a limited auction procedure, leading to the selection of Gimv as preferred partner. Kumulus Partners, in close collaboration with Stibbe, organized and orchestrated the process from conception to finish.