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UK green investor WHEB inks new deal, latest exit

18 Feb 2014

UK green investment firm WHEB has exited its stake in Advanced Manufacturer Control Systems (AMCS) whilst also making a ‘significant’ investment into German composites development and manufacture company UBC.

In 2009 WHEB contributed to end-to-end software and on-vehicle technology for the recycle and waste management industry firm AMCS, financing its expansion via acquisitions in new markets including the UK, US, and Scandinavia and increasing revenues and EBITDA from €8.4m and €0.7m in 2009 to €18m and €1.9m in 2013, respectively.

The deal returned around 2.5x cash on cash, according to a source familiar with the situation.

Separately, WHEB’s new private equity fund, Green Growth Fund II, has completed its first investment by taking a significant stake in UBC, located near Stuttgart, Germany. UBC is a profitable developer and manufacturer of high-end lightweight components made of carbon fibre composite materials. The company provides its services to blue chip customers in the automotive, aerospace and medical industries across the entire value chain of light-weighting with carbon fibre solutions. WHEB will support the UBC in further accelerating its growth and helping it to address new markets and new geographies.

According to a recent report in the Sunday Times, WHEB has raised €100m to date for its third and largest investment fund, with a €40m cornerstone from the European Investment Bank, alongside Hermes GPE and F&C.

The firm is aiming to reach its €250m target by the end of the year, the report added. A spokesperson for the firm declined to comment.

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