Behr mandates Goetzpartners to examine options to improve capital ratio

This article is provided to FT.com readers by mergermarket—a news service focused on providing actionable, origination intelligence to M&A professionals. www.mergermarket.com
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Behr, the privately-held specialist in automotive air conditioning and engine cooling systems, has mandated Goetzpartners to examine options on how to improve the capital ratio, mergermarket reports.

Chief executive officer Markus Flik confirmed suggestions made separately by a source familiar with the situation that Behr is looking to bring on board an investor. The company is 77% owned by the family, which is looking to retain a majority stake after the possible capital increase. The remaining investor is BWK. Flik said he wouldn’t rule out bringing in a private equity investor.

The company has been experiencing losses and is expecting to see additional losses going forward, he said. The company has a net debt position of EUR 480m at the end of 2008. The company capital ratio stood at 22.1%, Flik said, but declined to comment on how much he would like to improve this ratio.

No further restructuring measures are currently planned, Flik said.

Behr had a turnover of EUR 3.3bn in 2008

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