Cetelon Group

Leading supplier of decorative paints and functional coatings

Company

The Cetelon group produces decorative paints and coatings as well as functional coatings with a special focus on niche applications in the automotive industry. Decorative paints include alloy, metallic and chrome finishes for aluminium wheels, interior car parts or consumer electronics, whilst functional coatings include shock and heat resistant coatings as well as antibacterial coatings for inside air conditioners. The Cetelon group comprises three operating legal entities: Cetelon, Cetelon Nanotechnologie and Weckerle Lackfabrik.               

Inital Situation

The longtime owner of the group wanted to sell the business for age reasons. Likewise, management expressed an interest in acquiring a stake in the company. As a classic succession solution, Steadfast Capital led the MBO of Cetelon in August 2005. Steadfast developed a transaction structure that enabled a smooth transition for the management, its employees and the existing shareholders.

 

 

Corporate Development

The management succession, which was financed and assisted by Steadfast Capital, secured the future of this SME. Among other things, we have actively supported the following projects during our partnership with Cetelon:

  • Merging the companies into a group with the establishment of central functions (procurement, finance and accounting, etc.)
  • Transfer of overall responsibility from the previous shareholder to the management of the group
  • Successful defense of the effects of the automotive crisis 2008/2009
  • Modernisation and capacity expansion of the production facility in Ditzingen
  • Establishment of a new production facility in Leipzig for the production of nano-coatings

In Oktober 2011 Steadfast Capital sold its shares to the Swiss Berlac group.