Carlyle buys into Fennel

Loehne. UK-based Carlyle Group has bought a minority share holding in Fennel Technologies AG in Loehne, Germany.

Fennel, which makes interior components such as door handles, has ambitious expansion plans.

Fennel plans to take over the toolmaker Heinze Technik in Loehne and the metal technology specialist DGTH in Heiligenhaus.

Fennel sales director Joerg Gregel said that the reasons for the acquisitions were that "the demand for higher standards of interior design is growing and the added value share of car interiors is also increasing."

Fennel had a turnover of about 30 million euros in 2003. It hopes to increase its 2004 turnover to 70 million euros. The turnover target for 2005 is 108 million euros.

The number of employees will rise from 200 to 600.

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