Germany | Clean-tech private equity firm WHEB Ventures has invested Euro 10.8 million (US$ 13.6 million) in Friedola Tech which manufactures products for the automotive and logistics industries consisting of up to 80% recycled materials. Its leading product is Con-Pearl, a lightweight board made of polypropylene.
Jörg Sperling, a partner at WHEB Ventures, comments: ‘Friedola is a company with a long history of profitable success and innovation, and we are delighted to join with management in buying it out from its previous owners and help it accelerate its growth.’ The new funding has been earmarked for ‘capex spending to increase capacity, upgrade the manufacturing equipment, recruiting (and) international expansion’. The company’s plastic could prove attractive in any sector where plywood is currently used, including packaging, logistics and construction, he adds.
WHEB recently announced the final closing of its second clean technology fund on £105.4 million (Euro 127.3 million). Investors in the second fund were a mix of institutions and family offices including the European Investment Fund, the Environmental Innovation Fund managed by Hermes GPE, and a US fund of pension funds.
Acknowledgement
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