Welcome!

Cognitive Computing Authors: Elizabeth White, Yeshim Deniz, Pat Romanski, Liz McMillan, Zakia Bouachraoui

News Feed Item

Silver Lake Kraftwerk Announces Majority Stake in friedola®Tech, Marking First Co-Investment with Kleiner Perkins Caufield & Byers

Investment Will Support Scale, Growth and Geographic Expansion for Leading Recycled Plastics Supplier

MENLO PARK, Calif., Nov. 28, 2012 /PRNewswire/ -- Silver Lake Kraftwerk, a leading global growth capital investment strategy focused on energy and resource innovation, today announced a commitment of €31 million (USD$40.1 million) in friedola®Tech, a premier recycled plastics processing company that produces high-quality, environmentally-friendly products and components for the automotive and packaging industries. Silver Lake Kraftwerk is the energy investment strategy of Silver Lake, the world's leading investor in the global technology industry.

The investment will provide growth capital to enable further product innovation, development in key market segments and expansion into new geographic regions, including the opening of a world-class manufacturing facility in Greenville, South Carolina.

Under the terms of the transaction, WHEB Partners, a European-based resource efficiency private equity firm, has agreed to sell its majority stake in friedola®Tech to Silver Lake Kraftwerk while remaining an important shareholder. Once the transaction has closed, Silver Lake Kraftwerk will become the majority owner, alongside existing co-investor Kleiner Perkins Caufield & Byers (KPCB), which co-led the transaction and increased its ownership of friedola®Tech. This transaction marks the first co-investment between Silver Lake and KPCB.

Based in Geismar, Germany, friedola®Tech is a leading manufacturer and marketer of recycled plastic products with a focus on the automotive and packaging sectors. The company supplies lightweight, recyclable and environmentally-friendly plastic solutions to a variety of industries and boasts an innovative and proprietary product portfolio, including their signature product platform, CON-Pearl. As a Tier-1 supplier, friedola®Tech's plastic solutions are a key component in the lightweight efforts of a number of their customers, including leading car manufacturers.

A leader in innovative environmental technologies, friedola®Tech directly contributes to improved emissions and fuel economy standards in the automotive industry, and greater efficiency in the logistics and packaging sectors. 

"We are excited to partner with WHEB and KPCB as investors in friedola®Tech," said Josh Raffaelli, Partner, Silver Lake Kraftwerk. "There is a growing global market for engineered plastics and industrial products that are lightweight and reusable. friedola®Tech is uniquely positioned as a market leader in this industry and we are eager to support their growth and expansion."

Silver Lake Kraftwerk invests in companies that leverage technology and business model innovation in the energy and resource industries. Its stake in friedola®Tech marks Silver Lake Kraftwerk's first major investment in resource efficiency and its first investment outside of the United States.

"We look forward to working with Silver Lake Kraftwerk, KPCB and WHEB Partners as we position friedola®Tech for continued growth and expansion," said Christoph Holzapfel, Chief Executive Officer, friedola®Tech. "With Silver Lake's global presence, technology expertise and focus on value creation, we are confident the firm will make an excellent partner as we grow our business," added Werner Eisenhardt, Chief Financial Officer, friedola®Tech.

"friedola®Tech is a great success story," said Jorg Sperling, a Partner at WHEB Partners. "The company was an under-appreciated asset after facing serious challenges during the 2008/09 crisis in the global automotive industry. By stabilizing the company financially and by pursuing growth aggressively, friedola®Tech is now the leading provider of highly innovative, recyclable and lightweight plastic components used in a variety of industries. The company is now ready to expand in the United States and we are thrilled to bring such a renowned investor, Silver Lake Kraftwerk, on board to support the company's internationalization."

Advisers on the deal were Blackwood Capital Group (M&A support for WHEB Partners and friedola®Tech), Taylor Wessing (legal adviser to friedola®Tech), mb+p (Commercial Due Diligence), Deloitte (Financial Due Diligence), WilmerHale (legal adviser to Silver Lake Kraftwerk) and Hogan Lovells (legal adviser to Kleiner Perkins Caufield & Byers).

The deal is currently pending anti-trust approval by the German authorities.

About Silver Lake Kraftwerk
Silver Lake Kraftwerk (SLK) is an initiative of Silver Lake Partners, the global leader in private investments in technology and technology-enabled industries, and strategic partner Soros Fund Management, LLC. SLK is designed to provide growth capital to late-stage innovators in the energy and resource sectors.

About Kleiner Perkins Caufield & Byers 
Kleiner Perkins Caufield & Byers (KPCB) has backed entrepreneurs in more than 500 ventures leading to 150 IPOs, 350,000 jobs and a deep strategic network. The firm has helped build pioneering companies like Align, Amazon, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Symantec, VeriSign and WebMD.  KPCB partners serve on the boards of Amazon, Apple, Bloom Energy, Flipboard, Foundation Medicine, Google, Hewlett-Packard, Nest, Square, Tesaro and Zynga, among others.  KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy, operational scaling, recruiting, business development and product delivery. The firm invests in all stages from seed and incubation to growth companies.  KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. http://www.kpcb.com.

About WHEB Partners
WHEB Partners is a European private equity manager that invests in resource efficiency companies with high growth potential. It was founded in 2003 and has offices in London and Munich. The company manages GBP130m in two private equity funds on behalf of institutional and private clients. More information at: www.whebpartners.com.  

WHEB Partners is supported by the European Union's Competitiveness and Innovation Framework Programme (the CIP).

Media Contacts:
Trina Smith
(415) 671 7676 
Brunswick Group (San Francisco) for Silver Lake

Toby Guise 
+ 44 (0) 207 286 3404 
WHEB Partners

SOURCE Silver Lake Kraftwerk

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...