Hornschuch

Founded in 1898, Hornschuch is a fast-growing producer of premium films and artificial leather.

Headquartered in Weißbach, South-Western Germany, Hornschuch is a leading provider of premium films and artificial leather surface solutions used for a wide range of applications including home interiors and decoration, vehicle interiors, seats and flooring. Hornschuch products have received numerous awards, most recently the 2016 Red Dot Award: Product Design.

VALUE CREATION

Hornschuch has demonstrated strong revenue growth with turnover increasing from €161m in 2008 to €455m in 2016. Equistone has worked closely with the management team to support its expansion through the completion of three successful build-up acquisitions and other investment activities including:

• A majority investment in kek-Kaschierunge in November 2009, which became a wholly owned subsidiary in 2015.
• Expansion into the US, following the acquisition of Virginia-based O’Sullivan Films, a leading producer of polymer and finishing film technologies in March 2010.
• The purchasing of an artificial leather plant from Saudi-based manufacturers, Sabic, in 2010, which was installed at its new US factory to offer both films and artificial leather products also in the North American market.
• The acquisition of coating specialist, ERA, was completed in April 2013.

THE EXIT

Equistone Fund III sold its investment in Hornschuch to Continental subsidiary, ContiTech AG in March 2017.