One Equity Partners (OEP) acquires around 87 percent of SMARTRAC N.V. shares with the completion of the voluntary takeover offer
Strategic Goal: Focussed continuation of profitable growth
Amsterdam, December 1, 2010 – With the completion of the voluntary takeover offer to the SMARTRAC shareholders, OEP Technologie B.V. acquires a total of around 87 percent of SMARTRAC N.V. shares. On August 30, 2010, OEP announced its decision to launch a voluntary public takeover offer to all shareholders of SMARTRAC at an offer price of EUR 20 per share. The offer price represented an approx. 17 percent premium over the last XETRA closing price on August 27, 2010 and an approx. 34 percent premium over the average weighted stock exchange price of the three months prior to August 30, 2010. The takeover offer was not conditional upon a minimum acceptance level.
The simultaneously announced ten percent increase in the issued share capital of SMARTRAC N.V. against a cash contribution and excluding the subscription rights of the existing SMARTRAC shareholders was completed on October 15, 2010.
SMARTRAC, based in the Netherlands, is a leading developer, manufacturer and supplier of RFID transponders. “The strategic goal of our agreement with SMARTRAC is the focussed continuation of the company’s profitable growth under the current management,” said Dr. Jörg Zirener, Managing Director of One Equity Partners in Frankfurt.
SMARTRAC management board and supervisory board have been supporting the takeover offer from the beginning. OEP Technologie B.V. and the founder, Manfred Rietzler, who holds about 9.61% of the issued capital and voting rights in SMARTRAC N.V., are persons acting in concert
due to a pooling agreement.
The acceptance period for the offer ended on November 8, 2010. The additional acceptance period ended on November 26, 2010. Settlement of the SMARTRAC shares tendered during the additional acceptance period will take place on December 6, 2010.
About One Equity Partners:
One Equity Partners (OEP) focuses its investment activities on opportunities for industrial consolidation. OEP enters into long-term partnerships with both corporations and mid-market
companies in order to create sustainable added value. OEP was founded in 2001 and manages funds of approx. 8bn USD. OEP manages its European private equity business from Frankfurt with a team of 10 management and investment specialists who have successfully accompanied
many European companies in their growth over recent years. Amongst others, OEP is currently investing in Constantia Packaging AG, Carlson Wagonlit Travel and the Dutch Schoeller Arca
Tel.: +49 89 599 458 132