AXA Private Equity sells its stake in paper producer Steinbeis Temming Frankfurt 22 October 2007

BdW Beteiligungsgesellschaft für die deutsche Wirtschaft mbH & Co. KG (BdW KG)  that belongs to AXA Private Equity has sold its stake in Steinbeis Temming (a European market leader in producing graphics paper from wholly recycled used paper) to a company  already related to the Steinbeis family. BdW KG acquired its stake in Steinbeis Temming under a combined management/owners buyout in 2000, when it was still a listed company.

Steinbeis Temming manufactures some 250,000 tonnes per year of magazine and office paper from wholly recycled used paper. Recycling is a financial advantage as well as helping the environment compared to using new paper. The company’s sales and production have soared since BdW acquired its stake. Some 35% of total sales (i.e. €150 million) is earned in Europe. The new controlling shareholder will continue the expansion of the Glückstadt facilities in the last few years such as the investment made in a new recycled paper processing plant.

Parties involved in the transaction

AXA Private Equity:

• Hans E. Damisch
• Dirk Wittneben

Steinbeis Holding:

• Franz Winterer
• Michael Steinbeis

Legal advisors:

• Vendors: SJ Berwin (Thomas Pauls, Dr. Christoph Brenner)
• Buyers: Raupach & Wollert Ellmendorff (Matthias Mielke)

About AXA Private Equity (www.axaprivateequity.com)

AXA Private Equity – an AXA Investment Managers company – is one of the world’s leading private equity firms. AXA Private Equity offers investors a broad selection of high-performance funds for every market segment: Buyout, Expansion Capital, Venture Capital, Co-investments, Infrastructure, Mezzanine, Primary, Early Secondary and Secondary Fund of Funds. From its offices in Paris, Frankfurt, London, Milan, New York and Singapore, AXA Private Equity currently manages and/or advises on more than € 11.3 billion of funds from leading investors throughout the world. Backed by the expertise of its internationally experienced investment specialists, AXA Private Equity maintains a constant focus on transparency, performance and sustainable profitability.

About Steinbeis Temming (www.stp.de)

Based in Glückstadt Schleswig-Holstein, Steinbeis Temming designs and manufactures magazine paper for web offset printing and multi-functional paper for office applications, from wholly recycled used paper.
Steinbeis Temming employs 350 people making it the largest employer in Glückstadt and a European market leader in recycled graphics paper.