Fulda, 10 March 2021 – KAP AG concluded an agreement on the sale of its commercial property in Fulda on 16 February 2021. The land and buildings were sold to CPI Falcon GmbH and the operating facilities to CPI Falcon II GmbH, both affiliated companies of Captiva GmbH, a real estate investment and asset manager for institutional investors. The floor areas used by KAP and its subsidiaries were leased back on the basis of long-term rental agreements. The net proceeds are in the lower double-digit million Euro range. The completion is subject to various conditions customary in the market and is targeted for the end of November 2021 at the latest. With the sale, KAP Group increases its financial flexibility in order to be able to grow organically and externally within the strategic orientation of its business areas.
Eckehard Forberich, Member and Spokesman of the Executive Board of KAP AG: "Our company is closely linked to the city of Fulda, especially through the long history of Mehler AG. Therefore, it was important for us to find a buyer who would preserve the heritage of this location. With Captiva, a very renowned asset manager specialising in commercial real estate, we have succeeded in doing so. It is a particular concern for us to remain loyal to the Fulda location with our subsidiaries."
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About KAP AG
KAP AG is a listed industrial holding company whose operating companies are exclusively medium-sized SMEs and which offers attractive growth opportunities in their respective niche markets. KAP AG focuses currently on five different business areas: engineered products, flexible films, surface technologies, precision components and it/services. Through targeted acquisitions, the company strengthens its existing business areas or exploits new market opportunities. KAP allows its shareholders to participate in its long-term profitable growth through an earnings-oriented dividend. The company currently has 29 locations and around 2,700 employees in 12 countries. The shares of KAP AG are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006208408).