Issue 8 2019

Acquisition International - Issue 8 2019 5 News : from around the world Auveco : Expanding Their Portfolio, One Product at a Time Auveco, the largest purveyor of specialty fasteners and body hardware used in the automotive aftermarket, announces the acquisition of W&E Sales Company, headquartered in Newark, New Jersey. W&E is a provider of autobody fasteners and specialty hand tools to the automotive aftermarket. Auveco CEO Jeff Gilkinson said, “For years, the W&E brand and company have been synonymous with exceptional quality and service. The combination of these businesses has strong strategic fit and provides immediate benefits to customers of both Auveco and W&E. We are thrilled to expand our product portfolio while continuing to strengthen the breadth of solutions we can offer our growing network of distribution partners.” Auveco has grown in recent years, most recently through the June 2018 acquisition of Marli Manufacturing, a provider of automotive aftermarket mechanical components, including engine head bolts, intake manifold bolts, oil drain plugs, oil drain gaskets and other specialty fasteners and fittings. As with Marli, this acquisition brings new resources for W&E as a part of Auveco. Richard Carr, CEO of W&E, said, “Auveco’s market leadership is underpinned by their extensive product portfolio and rapidly expanding array of new products. This partnership opens new opportunities to serve our channel partners while allowing W&E to stay true to its world-class product quality and customer service.” Key benefits to Auveco and W&E distribution partners from the acquisition: • Augmented product offerings and innovation: Broader product selection and accelerated new product innovation, allowing distributors to meet the ever- changing needs of their end-users. • Outstanding service and support: Industry-leading customer service, robust online tools, and technical support to current and future channel partners. • Further growth and expansion. The Company continues to invest in growth to enhance the value proposition to our customers by adding new product lines, technology, and resources to best support our customers. Moving forward, both Auveco and W&E will continue to function as they have been and support their respective customers with their existing products and services. Longer term, plans will be developed to better integrate the offering of the two companies and leverage each other’s strengths. Auveco, a leader in the specialty automotive fastener and body hardware aftermarket, enhances core product line with acquisition of W&E sales company. Benson Elliot extends reach into Poland with acquisition of Chmielna 134 in Warsaw. The acquisition takes the fund manager’s Polish office holdings past € 200 million. Benson Elliot, the UK-based private equity real estate fund manager, acting on behalf of its pan-European fund, Benson Elliot Real Estate Partners IV L.P., has recently acquired an office building in central Warsaw from an institutional fund. Built in 1995 and refurbished in 2012, the property comprises c. 14,100 sqm of modern office space, with ground floor retail and 96 car parking spaces. The building is prominently situated in the popular City Centre West sub- market, a dynamic business district seeing rising rents due to its excellent transport links, local amenities and limited new supply. Benson Elliot is planning a transformative refurbishment and subsequent repositioning of the building. The value-add programme will see an upgrade to the existing space and delivery of state-of-the- art amenities including co-working areas, an improved F&B offering and green spaces. When completed, the building’s workplace and tenant appeal is expected to be markedly enhanced, offering contemporary space in an increasingly popular area of central Warsaw. Joseph DeLeo, Senior Partner at Benson Elliot, said: “We’ve been engaged in Poland’s regional office markets for several years, but see a compelling investment story in Warsaw now too. The Warsaw office market is seeing rising take- up, falling vacancies and strong investor interest, with international companies moving to the capital to benefit from its young, well-educated, English-speaking work force. We’re well positioned to capitalise on the opportunity and look forward to delivering an exciting new urban workplace in this increasingly sought- after locale.” Benson Elliot was advised by Dentons and Reesco and has engaged Syrena Real Estate as local operating partner. Broadening The Horizons