Blue Cap AG: Successful sale of the Uniplast Group above net asset value valuation

• Sale of the 100% stake in a management buy out
• Total proceeds above the level of the net asset value of the stake as of 31.12.2022
• Significant earnings growth while Uniplast belonged to the Blue Cap Group
• Sale gives rise to an adjustment of the forecast for the 2023 financial year

Munich, 14 June 2023 - Blue Cap AG ("Blue Cap") has today entered into an agreement for the sale of its 100% stake in Knauer Uniplast Management GmbH ("Uniplast"). The buyers are the long-standing managing director of Uniplast, Andreas Doster, and the COO&CIO Sascha Sander. The purchase agreement is expected to be completed in the third quarter of 2023.

Total proceeds (before tax) will be in the low double-digit millions and around 17% above the net asset value valuation as of 31 December 2022. The sale of the company will thus equal a multiple as measured by the adjusted⁽¹⁾ EBITDA as of 31 December 2022 of approximately 8.6x. A small part of the purchase price will be made available to the company as a loan for a while and will only be repaid to Blue Cap as part of a future refinancing.

For over 50 years, Uniplast has been developing and producing food packaging for the dairy industry. The tubs and lids are produced by means of injection moulding and thermoforming processes and are used mainly for yoghurt, dessert, and cream cheese preparations. Many of the major German dairies have been customers for many years.

Strong improvement of earnings while belonging to Blue Cap

In 2018, Blue Cap AG acquired Uniplast Group. Since then, together with the management Blue Cap has continued to develop the company successfully, both in strategic and operational terms. The transformation measures included active customer and product management, which led to a significant increase in profitability. Furthermore, Uniplast increased the flexibility of its production, thus succeeding in reducing the time-to-market substantially. In the recent past, the company has managed the often sizeable increases in raw material and energy prices by successfully negotiating the adjustment of price escalator clauses with its customers. Thus, the operating result has tripled since the takeover.

Tobias Hoffmann-Becking, CEO of Blue Cap AG, commented: "I am very pleased to announce our exit from Uniplast.  Over the past five years, with the help of our transformation skills we have implemented a number of profit-increasing measures. Now is the right time to monetise the value gains. In our view, the management of Uniplast is an ideal new owner and we wish the whole company every success for the next growth phase."

Andreas Doster, Managing Director and one of the future owners of the Uniplast Group, added: "Blue Cap AG's transformation competence and know-how were an optimal basis for us to further develop the company. We now look forward to continuing our growth and innovations in a new constellation."

Adjustment of the guidance for 2023 following the sale of the company

Considering the transaction and the further business outlook, Blue Cap is adjusting its guidance for the full year 2023. The Executive Board now expects Group revenue for the full year 2023 to be in the range of EUR 300 - 320 million (previously EUR 340 - 355 million) and continues to expect an adjusted EBITDA margin of 8 - 9% (previously 8 - 9%).

⁽¹⁾ Adjustments: adjusted for extraordinary, out-of-period and other effects from reorganisation measures and one-off effects as well as for effects arising from purchase price allocations

About Blue Cap AG

Blue Cap AG is a capital market-listed investment company founded in 2006 and headquartered in Munich. The company invests in medium-sized companies from the B2B sector and supports them in their entrepreneurial development. The holdings are headquartered in the DACH region, generate sales of between EUR 30 and 80 million and have a sound core business. Blue Cap holds mostly majority stakes in eight companies in the adhesives technology & coating technology, plastics technology, production technology, medical technology and business services sectors. The companies in the Blue Cap Group develop independently and each pursues its own growth strategy. The Group currently employs around 1,400 people in Germany and other European countries. Blue Cap AG is listed on the over-the-counter market (Scale, Frankfurt and m:access, Munich; ISIN: DE000A0JM2M1; stock exchange symbol: B7E). www.blue-cap.de

Contact:

Blue Cap AG
Lisa Marie Schraml
Investor Relations & Corporate Communications
Tel. +49 89 288909-24
lschraml@blue-cap.de