Private equity firm Gimv acquired a majority stake in Alro Group, a specialist in industrial coating of car and truck parts, in a family succession context. Financial terms were not disclosed. Christophe Van Quickenborne, Partner in Gimv’s Smart Industries team, says: “Alro fits our Smart Industries investment focus on advanced manufacturing companies. From past experience in automotive investments, we know how important it is for companies – as partners of choice – to be able to offer their OEM customers far-reaching flexibility and product differentiation. Together with management, we share the ambition to continue to capitalize on Alro’s strengths in capturing additional attractive growth opportunities. To this end, Alro Group can rely on its data-driven focus, strong engineering capacities, and advanced flexibility and customer orientation.”