Global market and technological leader in glass processing
Headquartered in Nuremberg, Germany, Flabeg (“the Company”) was leading manufacturer and supplier of solar parabolic mirror and automative glass for the renewable energy and automotive mirror system industry at the time of exiting.
Flabeg operated its mirror glass production in two business units – the Solar and Automotive segment. In the Solar segment Flabeg produced parabolic mirrors which are used in CSP plants (Concentrating Solar Power), namely for parabolic troughs. This segment of the renewable energy market has recently seen significant growth driven by the increasing global demand and governmental support for renewable energy sources aiming at decreasing pollution and reducing dependency on fossil resources. As a Tier 2 manufacturer, the Company’s Automotive segment manufactured mainly exterior and to a minor extent interior mirror glass for passenger cars and commercial vehicles.
Flabeg was acquired by the IK 2004 Fund in May 2008, and later sold its stake in April 2013.
Our Value Creation Strategy
During our ownership, we worked alongside the management team to:
- Focus on operational excellence and international expansion;
- Make selective add-on acquisitions; and
- Increase the production capabilities and capacity.