Bancroft Private Equity Acquires Standard Profil
Bancroft Private Equity, LLP (“Bancroft”), a leading Central European private equity fund manager, announced that a group of investors led by Bancroft II, LP has acquired Standard Profil for approximately USD 90 million. Based in Istanbul, Turkey, Standard Profil is a tier-one rubber profile and weather-strip manufacturer for European and Turkish car manufacturers with annual sales of about USD 95 million. The investor consortium includes International Finance Corporation (IFC), the private sector arm of the World Bank Group. Garanti Bank and the IFC provided acquisition finance for the transaction. Please click below for Bancroft’s press release.