14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
|Date of loan:||15 Feb 2018|
|Amount in EUR:||EUR 150 million|
|NACE sector / loan type:||Other business activities|
|Business area:||Industries and services|
The loan has been provided to finance Trelleborg’s acquisition of CGS Holding a.s., a manufacturer of agricultural, industrial and speciality tires as well as engineered polymer solutions, based in the Czech Republic.
CGS Holding a.s. includes the businesses Mitas, Rubena and Savatech. The acquisition was finalised in May 2016 and is expected to further strengthen and complement Trelleborg’s position in a number of areas and markets.
Trelleborg AB is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. The group is headquartered in Trelleborg, Sweden. Following the acquisition, it has approximately 23,000 employees in 50 countries.
The acquisition made Trelleborg a global leader in agricultural tires and reinforced its position in the industrial tires sector. The acquisition is further expected to generate cost and sales synergies. A total of 13 production facilities in the Czech Republic, Croatia, Serbia, Slovenia, Mexico and the U.S. have been acquired, which is expected to broaden Trelleborg’s geographical reach and add new positions in complementary niches.
When NIB finances acquisitions, the acquired operations have to comply with NIB’s Sustainability Policy and Guidelines. Environmental due diligences are carried out to assess compliance and the risk of potential environmental liabilities. Several environmental risks were identified in connection to the acquisition, but none require immediate remediation measures other than those that are already ongoing.