RECENT RELEASESCoveright Surfaces Holding GmbH
Coveright Surfaces Holding GmbH (“Coveright”) was a leading global supplier of surfacing materials for applications in the furniture, flooring, woodworking and automotive industries. The company conducted manufacturing activities in Brazil, Canada, Germany, Spain and the United States, with a worldwide sales presence.
Harvest Partners Investment
In June 2003, Harvest and Deutsche Beteiligungs AG (“DBAG”), a German buyout firm, purchased Coveright with the existing management team. To fund the acquisition Harvest and DBAG arranged the debt financing, which was comprised of a senior credit facility. Harvest completed a dividend recapitalization of Coveright in May 2006, and sold its assets to strategic buyers in 2012 and 2013.
- Market leading position, with an approximate 25% share of the global non-captive producer market
- Favorable product trends
- Strong global market for product
- Cost reduction opportunity through manufacturing plant rationalization