ACE Group is a leading supplier of braking systems in Europe, specializing in safety parts (44% of European iron anchors and over 25% of aluminum calipers). The story began in February 2005, when Innova acquired a production plant EBCC (Poland) from its parent company Valfond. A year later Innova bought Fuchosa – Spanish based manufacturer of iron castings. These two operating units become the foundation of ACE Group (created in 2006). After a successful IPO on WSE, ACE conducted a Czech add-on acquisition of Feramo (in 2008), now a CEE expansion platform for Spanish operations.

In November 2007 Innova wins “Deal of the Year Award 2007- Emerging Europe” for its investment in ACE Group, granted by European Private Equity and Venture Capital Association (EVCA) and Real Deals magazine.

www.acegroup.lu

Basic facts
  • Fund: Innova/3
  • Entry: Feb 2005
  • Exit: Jun 2007/ Nov 2009
  • Stake: 70%
  • Invested: EUR 9.7m
  • Innova Return: 5.9x cash on cash
  • Sector: Manufacturing
  • Location: Poland, Spain
  • Innova Contact: Andrzej Bartos
Innova Contribution
  • Innova identified and completed strategic acquisition of Fuchosa
  • EBCC and Fuchosa transformed from local players into ACE – European market leader in brake components
  • After successful IPO on Warsaw Stock Exchange, Innova engineered a Czech add-on acquisition expansion platform for Spanish operation.
Testimonials
Jean Bergeret, Head of Leveraged Finance Europe, BNP Paribas

“Innova understood the interest of the project immediately. We were impressed with their speed of response, capacity to follow a rigorous timetable and a very competent deal team. Their strategic vision was the most accurate. We were sure they would give us the best chances to survive and develop. It turned out just right”.

Jose-Manuel Corrales, CEO in ACE

“When we first contacted Innova, we were managers of a Spanish company- now, we are managers of a consolidated, international group of three companies, three times bigger and listed on the Warsaw Stock Exchange. We have great potential for the future.”