RF Group successfully acquires Helvoet Gilching to strengthen its Duroplast operations and expand its relationship with Siemens, amidst a recovering market landscape.

Target Company Overview

The target company, Helvoet Rubber & Plastic Technologies GmbH & Co. KG, has been a member of the Dutch Helvoet corporate group since 2013, which includes production facilities in the Netherlands, Belgium, India, and Poland. Helvoet Gilching generates approximately 85% of its revenue from the Duroplast sector. However, in late November 2023, the company filed for insolvency at the Weilheim District Court due to declining revenues, primarily linked to significant order decreases from its customers. Despite an improving order situation, the parent company in the Netherlands chose not to provide further loans to the German subsidiary, leading to the insolvency application due to a lack of liquidity.

Industry Overview in Germany

The Duroplast industry in Germany has faced challenges in recent years, particularly following economic disruptions and shifts in customer demand. The segment, which involves hard plastics, is crucial for various applications, including automotive, consumer goods, and industrial uses. German firms in this sector have been adapting to changes by diversifying their production processes and investing in advanced manufacturing technologies.

As the global market gradually rebounds post-pandemic, there is a renewed interest in manufacturing and innovation within the Duroplast industry. Companies are focusing on sustainability and efficiency, which coul