Blue Cap AG Sells Neschen Coating GmbH Above Asset Valuation

Blue Cap AG has successfully sold its 100% stake in Neschen Coating GmbH to ATP adhesive systems AG. This represents the company's second exit this financial year. The transaction was completed at a price exceeding the latest net asset value valuation by approximately 10%, featuring a double-digit million range sales price.

Blue Cap initially acquired Neschen from insolvency in 2016. The sale marks a profitable culmination of transformation efforts, achieving a near 44% annual return on invested capital. Key initiatives included cost efficiency and product range optimization, resulting in improved financial performance.

This sale aligns with Blue Cap’s strategy of acquiring companies in special situations for turnaround and value creation. Future growth will focus on opportunities with high potential. Adjusted 2024 financial guidance forecasts revenue between EUR 200-220 million, with an EBITDA margin of 9.5-10.5%.