ANNUAL REPORT 2007 | 2008 - Gimv

Gimv invests in world leader
VAG DEMONSTRATES ITS MASTERY OF WATER TREATMENT SYSTEMS AND
INDUSTRIAL PROCESSES
Founded in 1872, VAG Armaturen is a company with unrivalled knowledge and experience of pumps and industrial valves for
collecting, transporting and storing drinking and process water. Around 1920 it was already the market leader in South America.
The company has continued innovating and growing, and now has production facilities in Germany, the Czech Republic, China and
India.
Almost all water pumping, transporting or treatment installations anywhere in the world use VAG systems. These systems have to be
able to withstand extreme pressure and variable temperatures. Experience shows that they can function problem-free for up to 50
years, with certain valves operating now for over 100 years.
VAG solutions are omnipresent also in sectors in which safety is essential. Nuclear energy plants, conventional energy plants,
chemicals and steel companies opt for VAG’s unbeaten safety, with valves that can even withstand earthquakes.
DIVESTMENTS
During the past fi nancial year, the Halder-Gimv Germany I fund
sold two of its shareholdings. In this way three of the nine portfolio
companies have now been divested. On these divestments
the fund has achieved an IRR of 106 percent, almost earning
back the total resources invested in the nine shareholdings.
BHS Getriebe
www.bhs-getriebe.de
BHS Getriebe is one of the world’s largest producers of turbo
propulsion systems. BHS turbo drives are used in electricity
generation, oil and gas extraction and transportation, and in the
chemicals and petrochemicals industries. BHS produces also
clutches and rotor propulsion systems. It has 310 employees.
BHS has been acquired by Voith Turbo, another German producer
of propulsion systems. With this acquisition, Voith Turbo
and BHS Getriebe are combining their know-how in planetary
and turbo transmissions in order to boost their growth. The two
companies’ international service and sales structure also offers
prospects for growth.
Prüm-Garant
www.tuer.de – www.garant.de
PRÜM-GARANT is one of the top producers of high quality interior
doors in Germany. Its specifi c focus on doors guarantees the
consumer a very high degree of expertise, service and advice. A
strategic focus on specialist retailing is one of the main reasons
for this company’s success. Prüm-Garant Holding came into
being in May 2005 with the combination of PRÜM-Türenwerk
and GARANT Türen und Zargen. Since this merger, PRÜM-
GARANT has been constantly expanding its market share. In
2007 it posted sales of EUR 114 million with 727 employees.
Every year the company produces more than 1.1 million doors.
In May 2007 Gimv sold its entire holding to Looser Holding in
Switzerland.
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