Open Navigation
  • r2p is a globally active provider of IP-based system solutions for public transport, including both hardware and software for communication, security and monitoring
  • Open Access is an Australian provider of technology and solutions for integrated passenger information and audio communication systems in the public transportation space
  • r2p and Open Access will be integrated to realize significant cross selling potential and allow for the provision of an end-to-end solution portfolio for public transport applications
  • Additional growth potential arises from add-on acquisitions as the group engages as active market consolidator backed by HQ Equita
  • The transaction underpins HQ Equita‘s investment strategy and expertise in the intelligent transport market

 

Bad Homburg, 9 July 2018. HQ Equita Beteiligungen V GmbH & Co. KG, advised by HQ Equita GmbH (“HQ Equita”), has signed an agreement with the Swedish investor Alder Fund I AB (“Alder”) to acquire a majority stake in r2p GmbH (“r2p”), based in Flensburg. Simultaneously, HQ Equita will acquire Open Access Pty Ltd (“Open Access”) based in Sydney, to become a subsidiary of r2p, thereby extending the group’s global reach to Australia, Southeast Asia, and North America.

Founded in 2009 with headquarters in Flensburg, r2p is a rapidly growing technology group in the intelligent transport market, which develops both proprietary hard- and software, offering products and components for use in moving vehicles, stations and control centres. Alder, a Sweden-based growth investor, which focuses on majority investments in the sustainable technology sector, acquired r2p in 2012. Since then, r2p has made several add-on acquisitions in Denmark and the UK and has founded subsidiaries in Brazil and Switzerland, resulting in a competitive international presence. The current setup is enhanced by a close co-operation with Open Access, an Australian provider of technology and solutions for integrated passenger information and audio communication systems, active throughout Australia, Southeast Asia and through partners in North America. Upon closing of the transaction, HQ Equita will combine and integrate r2p and Open Access into one group to realise the untapped cross-selling potential arising from the two companies’ complementary product portfolios, applications and geographies. The combined group also seeks to become an active industry consolidator – aiming to acquire complementary technology and product solutions and to further increase its global delivery and service capabilities.

The management teams of both r2p and Open Access remain significant shareholders and are committed to growing the company further through active management and development of the group.

Henrik Flygar, Partner at Alder, says: “We have worked closely with r2p to build a strong international platform. With HQ Equita we have found a new owner for r2p, who has the necessary financial resources and network to continue to drive the group’s organic and inorganic growth. r2p will certainly benefit from HQ Equita’s sector expertise.”

Ulrik Rasmussen, CEO of r2p, adds: “With HQ Equita as our new owner, we will be able to consolidate the existing group, and build the required structures to accommodate further growth. The entire r2p management team is highly committed to further developing the group into a leading provider of intelligent transport solutions.”

Brendan Dooley, CEO of Open Access explains: “Open Access and r2p align well with respect to geographical coverage, technology and management experience. The merged group is well positioned to deliver compelling integrated solutions to the market. We look forward to working closely with HQ Equita.”

Hans J. Moock, Managing Director of HQ Equita, emphasizes: “The underlying intelligent transport market is expected to continue to grow at attractive double-digit rates in the next years. With the acquisition of r2p and Open Access, we seize the opportunity to participate in this promising growth case close to and overlapping with a product market we know well from our previous investment in MEN Mikro Elektronik. r2p’s integrated solutions portfolio and its cutting-edge technology combined with an extraordinary management team makes this acquisition an ideal platform for future inorganic growth.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for mid-July.

HQ Equita was supported in the transaction by the following advisors: DC Advisory (M&A, Debt Advisory), Gleiss Lutz (Law, Sales Contract, Taxes), civity Management Consultants (CDD), Rödl & Partner (FDD), Aon (Insurance, W&I), ERM (Environment, ESG).

Alder was supported in the transaction by the following advisors: Lincoln International (M&A), Deloitte (Finance, Taxes), White & Case (Law, Purchase Agreement).

 

Media Contact

Anna Mareen Steudel
CNC Communications & Network Consulting
Phone: +49 69 50 60 37 567
Email: press@hqcapital.com

 

About r2p

Headquartered in Flensburg, Germany, r2p is a globally active provider of IP-based system solutions for public transport covering communication, security and monitoring applications. The fully integrated portfolio of hard- and software products for passenger and fleet flow management r2p offers include CCTV, Passenger Information Systems (PIS), Passenger Announcement (PA), passenger counting, infotainment and fleet management with real-time data transfer and analysis for rail and road vehicles. The group has a network of subsidiaries in Denmark, the UK, Switzerland and Brazil. r2p currently employs around 117 people. For further information, please refer to www.r2p.com

 

About Open Access

Headquartered in Sydney, Australia, Open Access primarily provides solutions for integrated passenger information and audio communication systems in the public transportation space. The group has a subsidiary in Kuala Lumpur, Malaysia, and employs c. 53 people. It is primarily active in Australia, Southeast Asia and through partners in North America. For further information, please refer to www.oa.com.au

 

About Alder

Alder is a Swedish growth investor within the sustainable industry sectors focused on investments in proven and established companies with strong growth potential. Alder currently manages investment funds with committed capital of approximately EUR 200 million. For further information, please refer to www.alder.se

 

About HQ Equita

HQ Equita is the direct investment company of HQ Capital. It continues the tradition of the Harald Quandt family to take entrepreneurial interests in medium-sized companies in the DACH region (Germany, Austria and Switzerland). HQ Equita is one of the most experienced equity capital providers in the German-speaking market. Since its foundation in 1992, the company has raised capital commitments totaling more than one billion euros and has invested in more than 30 companies. The group of investors behind HQ Equita includes institutional investors, family offices, foundations and entrepreneurial families – such as the Harald Quandt family. For further information, please refer www.hqequita.com

  • The Packaging Group (“TPG”) is a leading developer and manufacturer of high-quality packaging machines, particularly for packaging food in various types of paper or plastic bags
  • Through organic growth and acquisitions, TPG will be developed into a globally active platform in the packaging machinery market
  • The owners of the newly founded holding company combine operational expertise, a broad, strategic industrial network and the necessary financial strength
  • This transaction underpins HQ Equita‘s extensive experience in the packaging machinery industry
  • Peter Steindl reinvests significantly; Friedbert Klefenz also invests

Bad Homburg, 13 June, 2018. HQ Equita has signed an agreement to acquire a majority stake in the Steindl Group, which consists of the leading packaging machine manufacturers FAWEMA GmbH (“FAWEMA”) and HDG Verpackungsmaschinen GmbH (“HDG”). These companies together will now operate as The Packaging Group.

The Steindl Group’s previous Managing Partner, Peter Steindl, who acquired FAWEMA in 2006 and HDG in 2011, will continue to hold a significant stake in the newly founded TPG Holding GmbH and will play a central role in its operations. Friedbert Klefenz, former CEO of Bosch Packaging, will complete TPG’s Advisory Board as a competent industry expert. Mr. Klefenz invests in TPG Holding along with the company’s further management. In addition, Markus Hüllmann, former board member of GEA Group AG, will enhance the Advisory Board.

FAWEMA, founded in 1920 and based in Engelskirchen, and HDG, founded in 1984 and based in Lindlar, already hold leading competitive positions in their respective markets. They specialize in the development and manufacturing of packaging machines for filling dry, free-flowing bulk materials into various types of paper or plastic laminate bags. The machines offer packaging solutions for flour, sugar, baking mixtures, confectionery, animal feed and various chemical products. The product portfolio includes servo- and cam-controlled horizontal form, fill and seal machines with rotary system (HDG), as well as servo-controlled high-performance packaging machines with chamber transport, and vertical, intermittent and continuous form, fill and seal machines (FAWEMA). The product range is completed by appropriate dosing and levelling systems. The service and spare parts business also accounts for around a quarter of TPG’s sales. With Mr. Steindl’s operational expertise, Mr. Klefenz’s strategic competence and industry network, as well as HQ Equita’s financial strength, TPG’s sales and service networks will be strengthened internationally, the aftermarket business will be accelerated and new machine solutions for additional applications will be developed, thus diversifying the product portfolio. The strategy will be enhanced by targeted acquisitions to expand technical expertise, end applications and geographical reach.

Peter Steindl, former Managing Partner of the Steindl Group and designated Chief Executive Officer of TPG, underlines the industrial logic of the transaction: “With HQ Equita and Friedbert Klefenz as well as Markus Hüllmann we have found the ideal partners for FAWEMA and HDG to take the next big step, with both companies now operating as The Packaging Group to create a global platform.”

Friedbert Klefenz, designated Chairman of the Advisory Board of TPG, adds: “I look forward to using my experience and my network to continue the success stories of FAWEMA and HDG as The Packaging Group. The attractive and rapidly growing packaging machinery market is characterized by consolidation tendencies. I see great potential in the M&A area in particular.”

Hans J. Moock, Managing Director of HQ Equita, emphasizes that the transaction documents HQ Equita’s broad experience in the packaging industry: “We are very pleased to have won two top companies with strong positions in their markets: FAWEMA and HDG.”

Christine Weiß, Partner of HQ Equita adds: “We know the packaging machinery market very well and have already shown that we are able to successfully exploit attractive growth opportunities and global trends, such as the increasing importance of flexible packaging solutions.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for the second half of June.

The Steindl Group was supported in the transaction by the following advisors: Hake Consulting (M&A, Finance), Rentrop & Partner (Taxes) and Fritsch Graf Horsten (Law, Purchase Agreement).

HQ Equita was supported by Munich Strategy (CDD), Ebner Stolz (FDD), ERM (Environment, ESG) and Watson, Farley & Williams (Law, Sales Contract, Taxes).

 

Media Contact

Anna Mareen Steudel
CNC – Communications & Network Consulting
Telefon: +49 69 50 60 37 567
Email: press@hqcapital.com

 

About FAWEMA GmbH and HDG packing machines Ltd (Steindl-Group)

The Steindl Group essentially consists of the leading packaging machine manufacturers FAWEMA GmbH (“FAWEMA”) and HDG Verpackungsmaschinen GmbH (“HDG”).

FAWEMA (“Factory for Tools and Machines”), founded in 1920, is a leading developer and manufacturer of packaging machines for filling dry, free-flowing bulk materials into various bag types made of paper or plastic laminates. The machines offer packaging solutions for flour & baking mixes, sugar, food & sweets, pet products and chemical powders. The product portfolio includes servo bag packers, cam driven packers, vertical fill seal packers (VFS), vertical form fill and seal machines (VFFS), bundler & collators and special machines. In 2006 Peter Steindl acquired the company from M.A.X. Automation GmbH as part of a management buyout. FAWEMA has operated sales and service branches in East Africa and the USA since 2017 in order to meet the growing local demand for packaging machines in these markets. FAWEMA employs 122 people at its headquarters in Engelskirchen and service technicians worldwide. More information can be found at: www.fawema.com.

HDG was founded in 1984 and employs approximately 80 people at its headquarters in Lindlar. The company specializes in the development and manufacturing of packaging machines for the food, pharmaceutical, chemical, cosmetics and pet food industries. The product portfolio includes includes horizontal form, fill and seal machines (HFFS Pouch) as well as dosing and levelling systems. HDG operates a worldwide service network consisting of numerous representative offices and service employees. In 2011 Peter Steindl acquired the company from the son of HDG founder Christof Glindemann. More information can be found at: www.hdg-packaging.com.

 

About HQ Equita

HQ Equita is the direct investment company of HQ Capital. It continues the tradition of the Harald Quandt family, to take entrepreneurial interests in medium-sized companies in the DACH region (Germany, Austria and Switzerland). HQ Equita is one of the most experienced equity capital providers in the German-speaking market. Since its foundation in 1992, the company has raised capital commitments totaling more than one billion euros and has invested in more than 30 companies. The group of investors behind HQ Equita includes institutional investors, family offices, foundations and entrepreneurial families – such as the Harald Quandt family. For further information please refer to www.hqequita.com.

  • Sale as part of a merger of MEN Gruppe with duagon Holding AG
  • Successful internationalization of MEN under HQ Equita ownership
  • Investments in the setup of organizational structures in sales, production, IT and finance
  • duagon as an ideal strategic partner for MEN’s further development

Frankfurt, 5 April 2018. As part of a merger transaction with duagon Holding AG (“duagon“), HQ Equita agreed to sell MEN Gruppe (“MEN“), a leading provider of highly available computers and electronic components for demanding operational environments, to DBAG Fund VII which is advised by Deutsche Beteiligungs AG (“DBAG”).

 
MEN develops and produces fail-safe and durable computers and electronic assemblies for challenging environmental conditions. The components are used for data processing inside trains, aircrafts, in industrial plants or medical equipment. duagon Holding AG is a leading, independent provider of network components for data communication in rail vehicles.

 
Both MEN and duagon already hold leading competitive positions in their respective markets. While MEN’s computers ensure the flawless and reliable control of brakes, doors and other subsystems of rail vehicles and rail networks, duagon components enable for instance the communication of these systems with the central train network.

 
Hans Moock, Managing Director of HQ Equita, highlighted the business logic of the merger: “Due to duagon’s highly complementary technology and the two well-matched management teams, we believe the merger will create a leading technology provider for secure computing and communications solutions in the rail sector. Such a combined group is ideally positioned to benefit from the positive developments expected in the future in the field of railway electronics and other mission-critical markets, including medical technology, avionics, power & energy and special industrial applications.”

 
Under duagon’s and MEN’s joint expertise, new products and comprehensive solutions will be developed. The focus will be on automatic safety systems and technological trends, such as autonomous driving, which is also relevant for the rail industry.

 
Bernd Härtlein, current CEO of MEN and future CEO of the Computing business unit, added: “The merger of duagon and MEN is a major first step in creating a market leader in rail and market computing, wherever there is a need for highly reliable and secure solutions. In particular, I see great potential in duagon’s hardware-related software competence and its strong position with Asian customers.”

 
In addition to the integration and further development of the newly created group, MEN founder Manfred Schmitz will continue contributing his many years of experience to the company as a shareholder and as part of his administrative board activities.

 
Dr. Markus Dilger, current CEO of duagon and future CEO of the Communications business unit, commented: “We are pleased with the new perspectives that the merger of duagon and MEN opens up for both companies. For duagon, these include access to MEN’s hardware expertise, for example in terms of reliability standards, and to new markets, such as aerospace and medical applications.”

 
In 2013, HQ Equita acquired the majority of MEN from the managing partner Manfred Schmitz and two other founders. All three founders remained invested in MEN at the time. Additionally, the wider management team also participated in the transaction. Since the acquisition by HQ Equita, MEN has strengthened its presence particularly in the Asian market by establishing a local sales company in Shanghai. Among other things, the development of the pre-certified secure computer system, menCTS, was successfully completed and will form the basis for promising expansion approaches in the future. Overall, sales and project management were expanded and the management team was strengthened. The separation into the Retail & Public Transport (comprehensive solutions) and into the Embedded Electronics division (board-level products) has enhanced the product and market strategy and made them more flexible through extensive investments in modern production systems and IT. To take account of the growth that was achieved as a result, the existing production capacities were also expanded. Under HQ Equita, the number of employees grew by one third to around 300 today. Sales increased to 60 million euros in the same period.

 
The parties have agreed not to disclose the purchase price nor any other details of the contractual arrangements. The transaction is subject to the approval of the relevant antitrust authorities.

 
duagon was supported with the transaction by the following advisors: Alantra (M&A), Roland Berger Strategy Consultants (CDD), KPMG (FDD), Latham & Watkins (legal, purchase contract), Marlborough Partners (financing) and ERM and Gleiss Lutz (ESG).

 
HQ Equita was supported by: GCA Altium (M&A), goetzpartners (CDD) Alvarez & Marsal (FDD) and Watson, Farley & Williams (legal, purchase contract, taxes).

 
Media Contact
Ulrich von Rotenhan, Anna Steudel
CNC – Communications & Network Consulting
Telephone: +49 69 50 60 37 567
Email: press@hqcapital.com

 
About MEN
MEN is one of Europe’s leading developers and producers of fail-safe computers and electronic assemblies. The electronics are used globally for safety and mission-critical functions in control and measurement technology, where reliability must be guaranteed even under challenging environmental conditions, such as high temperature fluctuations, dust, vibrations or humidity. Historically coming from the field of industrial automation, today’s main applications include mobile applications in the railway, public transport and aviation sectors. MEN also supplies medical technology, power generation as well as oil and gas production. For further information, please visit www.men.de.

 
About HQ Equita
HQ Equita is HQ Capital’s direct private equity investment company. Continuing with the tradition of the Harald Quandt family, HQ Equita acquires entrepreneurial stakes in medium-sized companies in the DACH region. It is one of the most experienced providers in the German-speaking market. Since its foundation in 1992, HQ Equita has raised capital commitments totaling more than one billion euros and has invested in more than 30 companies. The firm’s investors includes institutional investors, family offices, foundations and well-known entrepreneurial families – including the Harald Quandt family. For more information, please visit www.hqequita.com.

Duisburg, 26 October 2017. Franz Haniel & Cie. GmbH (Haniel) signed a contract on 24 October 2017 for the complete acquisition of ROVEMA. Haniel intends to acquire ROVEMA from the German financial investors Equita GmbH & Co. Holding KGaA and Equita GmbH & Co. CoVest KGaA (hereinafter referred to as “HQ Equita”) and from the CEO of the company, Thomas Becker. ROVEMA is a leading company in the development, manufacturing, maintenance and modernisation of packaging machines and systems. ROVEMA has grown by double-digit percentages in both of the past two years thanks to its diverse and innovative product portfolio and its service offers. Headquartered in Fernwald/Hesse and with branches and sales subsidiaries in over 50 countries, the company is expected to generate sales of around EUR 100 million in 2017. The Haniel holding company offers an outstanding basis for the future development of ROVEMA, which the current CEO Thomas Becker will continue. In addition, he will reinvest in the company.

“We are delighted to have acquired ROVEMA, a high-growth and high-margin business with many unique selling points in an attractive market for our portfolio,” says Haniel CEO Stephan Gemkow. “ROVEMA’s business model is unique in its combination of technological skills and proximity to its customers and produces excellent quality for hygienic and innovative packaging solutions. ROVEMA is an established innovator in this business segment, serves global megatrends and also has huge potential – both for organic and inorganic growth.”

Customer-focused approach
The highly innovative company and its around 600-strong workforce is a leading manufacturer of machines for dosing, filling, sealing, cartooning and final packaging. ROVEMA has positioned itself as an end-to-end solution provider, where the focus, from development and manufacturing, through consultancy and project planning, to installation and acceptance, is always the partnership with the customer. Moreover, the range of services that is offered also includes the complete refurbishment and resale of used packaging machines as well as other service offers.

In addition to the head office and production premises in Fernwald, the company currently has locations in Europe, the US and Asia, which means it is active in over 50 countries. ROVEMA supplies customers from various segments of the food industry via this global network of branches and sales subsidiaries.

Management delighted with growth prospects
Thomas Becker, CEO of ROVEMA, is delighted with the prospects for growth under the umbrella of the Haniel holding company: “With Haniel’s long-standing expertise in developing companies, we can promote ROVEMA’s further growth in a quick and structured manner. This is a significant step in the company’s history. Sustainable economic, ecological and social action is an essential element of the corporate culture for ROVEMA. This is another area where we identify with Haniel.”

“We are convinced that we have found the best owner for ROVEMA in Haniel,” said Christine Weiß, HQ Equita partner, on the signing of the contract. “The holding has demonstrated with Bekaert Deslee and CWS-boco how successfully it develops its portfolio companies. This was what won the bidding process.”

Previous investments form good basis for future development
HQ Equita acquired ROVEMA in June 2015 from the managing partner Thomas Becker and two other private individuals. Since HQ Equita’s acquisition, the business has evolved dynamically. The steps taken together include the (re-)entry into the US and French markets by founding local subsidiaries and the acquisition of former sales agents’ activities. The company has also tapped into new application segments in the field of liquid food packaging and offered integrated robotic solutions. In response to strong growth, capacity in the company was expanded by building a new hall at the Fernwald site and significantly increasing the workforce by around one-fifth since the acquisition.

It has been agreed not to disclose the purchase price and the further details of the contractual arrangements. The transaction is subject to the approval of the responsible antitrust authorities.

Haniel was supported in the transaction by the following advisers: Berndt+Partner (CDD), ensign advisory (CDD), Ernst & Young (FDD), Glade Michel Wirtz (legal, purchase agreement) und HPC (environment).

HQ Equita was supported in the transaction by the following advisers: Alantra (M&A), Alvarez & Marsal (FDD), Roland Berger (CDD), Watson, Farley & Williams (legal, purchase agreement), Flick Gocke Schaumburg (taxes) and ERM (environment).

Please see the attached fact sheet for further details about ROVEMA.

Contact partners for press
Haniel
Dietmar Bochert, Senior Vice President Communications,
Tel.: +49 203 806-578, fax: +49 203 806-80578, E-mail: dbochert@haniel.de

Contact partners for finance
Haniel
Dr Axel Gros, Senior Vice President Finance,
Tel.: +49 203 806-355, fax: +49 203 806-80355, E-mail: agros@haniel.de

Contact HQ Equita
Jan Herwig
Telefon: +49 6172 9441 227, E-Mail: jan.herwig@hqequita.com

Haniel
Franz Haniel & Cie. GmbH is a German family equity company which has been headquartered in Duisburg-Ruhrort since it was founded in 1756. It is from there that the Holding Company, which is wholly owned by the family, manages a diversified portfolio in line with a long-term investment strategy as a value developer. Haniel’s portfolio currently includes four business divisions which are independently responsible for their own operating business and which hold a leading market position in their respective sectors: BekaertDeslee, CWS-boco, ELG and TAKKT. In addition, there are the financial investments METRO, a wholesale and food specialist, and CECONOMY, an enterprise focused on Consumer Electronics.
For more information, visit www.haniel.com.

ROVEMA
ROVEMA is a premium provider of packaging equipment and systems that offers a broad product portfolio and enjoys a global position. From development and production, through consultancy and project planning, to installation and acceptance, its focus is always the partnership with the customer. Headquartered in Fernwald/Hesse and with branches and service locations in over 50 countries, the German company planst o generate sales of around EUR 100 million in 2017 through its diverse and innovative product portfolio and service offers.
For more information on ROVEMA, please visit www.rovema.com.

About HQ Equita
HQ Equita is the mid-cap buyout firm of HQ Capital. It continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in small and mid-sized enterprises. HQ Equita is one of the most experienced providers in the German-speaking market. Since its inception in 1992, the company has acquired a total of more than 1 billion euros in capital commitments and invested in over 30 enterprises. Investors include institutions, family offices, foundations and trusts as well as notable entrepreneurial families – including the Harald Quandt family. Further information can be found at www.hqequita.com.

Frankfurt, April 27, 2017. HQ Equita has signed an agreement for the sale of ISOLITE Group (“ISOLITE”), a leading provider of thermal and acoustic management solutions for automotive, aviation, marine and industrial applications, to Hitachi Chemical Co., Ltd. (“Hitachi Chemical”). The parties mutually agreed not to disclose details of the transaction.

ISOLITE’s thermal and acoustic insulation and encapsulation solutions are, among other things, integrated in combustion engines, turbines, exhaust gas treatment components, batteries and stationary power generators for which they increase the operating efficiency of combustion processes, shield surrounding components and reduce emitted noise. Originating from the aerospace sector, ISOLITE complements its core expertise in “hot end”-applications reaching up to 1,600°C with “cold end”-technology and thereby acts as an integrated solution provider for its customers.

Based on proven material expertise, patented fiber technology and its application engineering capabilities, ISOLITE is a development partner of choice for a range of global blue chip customers. The company’s products enable OEMs to meet ever-stricter environmental regulations and CO2 emission standards, helping to achieve energy and fuel-saving targets and increasingly stringent acoustic requirements across multiple industries.

Exhibiting a high process stability and resource efficiency, ISOLITE’s flexible and intelligent machinery and technology deployment ensures that the company meets the requirements for both prototype and small-batch production as well as for large-series manufacturing. ISOLITE serves its international customer base from locations in Germany, the USA, South Korea and South Africa and, in addition, maintains international partnerships to extend both its geographical reach and its product offerings.

HQ Equita acquired ISOLITE in 2010 and has since supported the company in becoming a global leader and innovation-driven powerhouse for thermal and acoustic management. Through its targeted investment approach and close collaboration with management, HQ Equita has, for instance, developed the company’s automotive business from a small-batch niche towards large-series production. Measures jointly implemented by ISOLITE and HQ Equita include the increase of operational efficiency by introducing highly automated production technology, the international expansion of the production base now spanning four continents, the strengthening of the company’s differentiated materials competencies, and the targeted enlargement of the sales, R&D, design and management teams.

“With the acquisition of ISOLITE, Hitachi Chemical expands its material technology expertise as well as its automotive business. Hitachi Chemical has a clear vision for growth of the combined entities’ operations. Hitachi Chemical expects that its customers will greatly benefit from the combination of ISOLITE’s process and application expertise with Hitachi Chemical’s deeply rooted materials engineering excellence. Furthermore, through ISOLITE and its other subsidiaries, Hitachi Chemical is now able to provide a comprehensive solutions portfolio for thermal management, strengthening Hitachi Chemical’s ambition of becoming a global leader in the automotive sector,” said Hiroyuki Yamashita, Vice President and Executive Officer of Hitachi Chemical.

“ISOLITE is an excellent example of HQ Equita’s investment focus on ‘Mittelstand’ industrial champions with a differentiating technological and operational edge,” said Hans J. Moock, Managing Director of HQ Equita. “We are proud to have had the opportunity to support an outstanding management team in taking ISOLITE to the next level and firmly establishing the company on the international stage by adopting an entrepreneurial and industrial investment approach. With Hitachi Chemical, ISOLITE has found an ideal partner to continue on its successful growth path in the future.”

Christian Eck, Managing Director of ISOLITE, said: “The global reach of the combined group in addition to longstanding relationships with key players in Asia, Europe and North America provides an outstanding operational base for further development.” Matthias Kroll, Managing Director of ISOLITE, added: “Building on the materials expertise of both companies, the complementary technology portfolios present ample opportunity for joint developments to address the thermal and acoustic challenges of tomorrow’s markets.”

The closing of this transaction is subject to regulatory approval and other customary closing conditions.

HQ Equita was advised by DC Advisory (M&A), Alvarez & Marsal (Financial), Berylls Strategy Advisors (Commercial), and Watson Farley & Williams (Legal & Tax) on the transaction.

 

About ISOLITE
ISOLITE is a leading supplier of high-temperature insulation systems for the aviation and turbo machinery industry, the automotive industry and large engine manufacturing. ISOLITE products are used to increase the efficiency and resistance to wear of systems exposed to operating temperatures between 400 and 1,600 degrees Celsius – a temperature range that occurs in various high performance combustion engines and gas turbines. ISOLITE serves leading international customers and holds various patents regarding its technology. Further information is available at www.isolite.de

 

About HQ Equita
HQ Equita is the mid-cap direct buyout firm of HQ Capital. It continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in SMEs. HQ Equita is considered an experienced provider in the Germanspeaking direct investment market. Since its inception in 1992, the company has obtained a total of more than one billion euros in capital commitments and has invested in over 30 SMEs over time. HQ Equita’s clients comprise institutional investors, family offices, foundations & trusts as well as renowned entrepreneurial families – including the Harald Quandt family. Further information is available at www.hqequita.com

 

About Hitachi Chemical
Hitachi Chemical Co., Ltd. (Tokyo Stock Exchange: 4217), headquartered in Tokyo, Japan, delivers a wide range of innovative products, such as electronic materials, automobile parts, energy storage devices and systems, into the global markets with 19,117 employees. The company’s consolidated revenues for fiscal 2015 (ended March 31, 2016) totalled 547 billion yen (USD $4.8 billion). Further information is available at www.hitachi-chem.co.jp/english/

 

 

Should you have any queries, the following contacts will be pleased to assist you:

HQ Equita
Hering Schuppener
Unternehmensberatung für Kommunikation GmbH

Kathrin Meyer
+49 160 53 60 965

Sebastian Göb
+49 151 16308949
hqcapital@heringschuppener.com

 

ISOLITE
TEXT-COM GmbH

Lena Weickel
+49 6128 85375-84
lena.weickel@text-com.de

 

Hitachi Chemical
Hitachi Chemical Co., Ltd.
Corporate Business Strategy Headquarters
Corporate Communication Center
Public and Investor Relations Group

Tomoko Koizumi
+81 55 33 71 46
t-koizumi@hitachi-chem.co.jp

 

Frankfurt/New York, April 19, 2017. HQ Capital, a leading independent investment manager for alternative investments, announced today that it has appointed Heiko Dimmerling as its new Chief Operating Officer (COO), effective April 18, 2017. Dimmerling, previously partner and managing director of the investment firm Triton, will control the internal operations of HQ Capital. He takes over this responsibility from former COO Dr. Georg Wunderlin, who was appointed Chief Executive Officer (CEO) of HQ Capital in September 2016, and has since been undertaking the duties of both CEO and COO.

“We want to continue to pursue the path we have chosen by combining our business divisions and to further drive growth in the coming years,” says Dr. Georg Wunderlin, CEO of HQ Capital. “Heiko Dimmerling’s expertise and experience in managing business processes will contribute significantly to achieving this goal.”

Heiko Dimmerling’s responsibilities will include aligning and further optimizing HQ Capital’s internal workflows, thus enabling the investment teams from the private equity, real estate and direct investment divisions to deploy their existing resources more efficiently and to serve clients’ needs consistently using the company’s range of investment strategies. At the same time, the teams will continue to make their investment decisions independently, allowing HQ Capital to fully exploit the Group’s growth potential.

Prior to joining HQ Capital, Heiko Dimmerling spent over 16 years working for the investment firm, Triton, most recently as a partner and managing director. In this position, he was co-responsible for reorienting the company’s strategy as well as shaping its structure. Prior to that, Heiko Dimmerling was a project manager with the auditing and tax consultancy firm, Arthur Andersen. He studied business economics at the University of Applied Sciences, Fulda.

  • Acquisition of significant stake in German market leader specializing in protein-based sports nutrition
  • Plans include extension of the international footprint, expansion of the product portfolio and development of complementary sales channels
  • Protein-based sports nutrition continues to offer significant growth potential

Frankfurt, February 13, 2017. HQ Equita announced today that it has acquired a majority stake in WELL PLUS TRADE GmbH (WPT). WPT’s former managing partners will retain a minority ownership stake in the company and continue their operational positions as executives. Financial terms were not disclosed.

WPT, established in 2001 and headquartered in Hamburg, Germany, specializes in the development and the distribution of protein-based sports nutrition and weight management products. The company is the market leader in the sports nutrition segment in the German retail market. Its products are sold to leading key retailers and drugstores under the WPT brands “Power System”, “Slim System” and as other private label solutions.

“The market for protein-based sports nutrition has enormous potential, especially in Germany. More and more people who partake in leisure sports appreciate the benefits of these products to support their nutrition and boost their training results,” said Torsten Krumm, Managing Partner of HQ Equita. “WPT stands to benefit from this trend. In cooperation with the management, our aim is to boost WPT’s international expansion, to source new target groups and to systematically diversify its product range.”

“WPT has recorded attractive growth in recent years and is now ready for the next stage of its expansion. HQ Equita is an experienced partner with a compelling track record and extensive expertise in the German SME segment,” said Karsten Pistor, Managing Partner and CEO of WPT.

Since 2013, WPT has boosted its sales by an average of 15 percent per annum. The company serves both the retail market as well as specialized sales channels. WPT’s future plans include offering products with new recipes, leveraging complementary sales channels and focusing specifically on new customer groups.

Protein-based sports nutrition has become the largest and fastest growing sports nutrition segment in the German-speaking retail markets. Providers benefit from the consumers’ intensified awareness of health and well-being, a trend that has led to an increase in average per-capita consumption of sports nutrition. Germany has substantial catch-up potential compared to markets such as the US, UK and Scandinavia.

 

About HQ Equita

HQ Equita is the mid-cap direct buyout firm of HQ Capital. It continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in SMEs. HQ Equita is considered an experienced provider in the German-speaking direct investment market. Since its inception in 1992, the company has obtained a total of more than one billion euros in capital commitments and has invested in over 30 SMEs over time. HQ Equita’s clients comprise institutional investors, family offices, foundations & trusts as well as renowned entrepreneurial families – including the Harald Quandt family. Further information is available at www.hqequita.com

 

About WPT

WELL PLUS TRADE, based in Hamburg, Germany, is an enterprise focused on the development, marketing and distribution of products to boost fitness and dieting. Its objective in marketing the WPT products under its “Power System” and “Slim System”, as well as various private label brands, is to help consumers achieve their individual sport and health-related goals. To do so, WPT has developed specially designed product concepts to ensure optimum results. WPT’S many years of experience in developing functional foods and the use of top-quality ingredients guarantees individually optimized products for enhanced vitality and wellbeing.

 

Contact:

Hering Schuppener
Unternehmensberatung für Kommunikation GmbH

Kathrin Meyer
+49 160 53 60 965

Sebastian Göb
+49 151 16308949

hqcapital@heringschuppener.com

HQ Equita has announced the sale of Sapphire Holding AG (“STETTLER”) to Groupe Industries Micromécaniques Internationales (“Groupe IMI”). STETTLER is a leading provider of high-quality sapphire glass used by the luxury watch industry as well as in various technical applications in the fields of optics, electronics and medicine. The parties mutually agreed not to disclose any details of the transaction.

STETTLER is a leading company in the processing of synthetic sapphire components for the watch market and for various technical applications in the fields of optics, electronics and medicine. The company’s broad customer base is comprised of leading companies across these sectors. With sites in Switzerland and Mauritius, STETTLER is able to meet both the “Swissness” requirement and the demand for low-cost yet high-quality products.

HQ Equita acquired STETTLER from the Stettler family, company management and two members of the supervisory board in July 2011. Martin Stettler kept a stake in the company and still leads the business as its CEO. Measures implemented jointly between STETTLER and HQ Equita include; (1) the ramp up and enhancement of high precision CNC milling of unique products, such as sapphire watch cases, and; (2) the implementation of its own production line for anti-reflex coating of watch glasses. In addition, HQ Equita supported the upgrade and extension of the production sites located in Switzerland and Mauritius with investments allocated towards expansion, modernization and automation.

“After our entry as shareholder, STETTLER decisively further developed its business model through building up competence for coating of watch glasses, among other things” said Jan C. Drewitz, Partner of HQ Equita. Dr. Michael Hönig, Senior Partner and Managing Director of HQ Equita, added, “As a sustainable investor, it is always important for us to find a long-term stable solution for our companies in the event of an exit.”

“The acquisition of STETTLER is an important stage in Groupe IMI’s strategy to become a major partner of the watch industry”, says Antoine Gérard, Chairman of the Management Board. “Year after year, we have built an industrial, independent and family-owned group with the aim to integrate technologies for the luxury market. STETTLER’s products and history are fully aligned with this vision.”

“HQ Equita has contributed to the success of the past few years,” explains Martin Stettler. “The investment policy focused on products and customers with high potential and an optimization of our cost structures have allowed us to strengthen our market position and to achieve improved results despite a difficult environment. The sale to a strategic investor provides the opportunity to continue this policy and grow through synergies.”

The transaction closed on 15 December 2016.

 

Should you have any queries, the following contacts will be pleased to assist you:

HQ Equita

Hering Schuppener
Unternehmensberatung für Kommunikation GmbH

Sebastian Göb
Phone: +49 151 16308949

Kathrin Meyer
Phone: +49 160 53 60 965

hqcapital@heringschuppener.com

 

STETTLER

Martin Stettler, CEO
Phone: +41 32 38740 – 01

 

Group IMI

Samuel Jeanneret, CFO
Phone: +33 381 252 436

 

About STETTLER

Sapphire Holding AG is the holding company of Stettler Sapphire AG which has a workforce of ca. 115 employees in Lyss and ca. 200 at its subsidiary in Mauritius. It is a leading company in the processing of synthetic sapphire components for watches in the high-end and ultra high-end market segment. Additional markets are in the fields of optics, electronics and medicine. For more information on Stettler Sapphire AG, visit www.stettler-saphir.ch

 

About HQ Equita

HQ Equita is the mid-cap direct buyout firm of HQ Capital. HQ Capital combines investment expertise in private equity and real estate as well as direct investments in German companies under a single brand and has currently more than US$11 billion assets under management. HQ Equita continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in SMEs. HQ Equita is considered an experienced provider in the German-speaking direct investment market. Since its inception in 1992, the company has obtained a total of 830 million euros in capital commitments and has taken stakes in over 30 enterprises over time. HQ Equita’s clients comprise institutional investors, family offices, foundations & trusts as well as renowned entrepreneurial families – including the Harald Quandt family. Further information is available at www.hqequita.com

 

About Groupe IMI

Groupe IMI is a family-owned business founded in 1987 by Mr. Jean-Pierre Gérard, the father of the current Chairman. In 1994, Groupe IMI made the acquisition of Cheval Frères a company located in Besançon, France. It currently counts with 6 firms specialized in micro-technics and in the manufacture of parts and products for luxury sectors. It leverages the experience of 500 employees to meet its customers’ needs in the fields of watch making, jewelry, leather goods, telephony and medical among others. Further information is available at www.groupe-imi.fr

HQ Equita has just signed an agreement for the sale of Granite Holding GmbH (“SCHOCK”), the world’s leading provider of top-quality quartz-composite kitchen sinks, to the IK VIII Fund, managed by IK Investment Partners (“IK”). The parties mutually agreed not to disclose any details of the transaction.

SCHOCK is the inventor and world market leader of quartz composite kitchen sinks and has been the technology and quality leader in this field across the globe for over 30 years. Over half of all quartz composite kitchen sinks manufactured worldwide are based on the production method developed by SCHOCK.

As a trendsetter and inventor of quartz composite kitchen sinks, SCHOCK has acquired a reputation for exceptional and top-quality products. Established in 1924, the enterprise which, in addition to its private label business, also is on the market as an original equipment manufacturer (OEM) and innovation driver in the quartz composite segment, has managed to acquire leading kitchen and furniture industry enterprises as customers in recent years. Meanwhile customers in over 70 countries have learnt to appreciate the products from SCHOCK.

IK VIII Fund acquires the business from HQ Equita.

HQ Equita took over SCHOCK from Capital Management Partners (CMP) in December 2010. The internationalization strategy adopted by management at that time has since been successfully implemented. Since the acquisition by HQ Equita, the business has continuously developed over the years. In the process, SCHOCK has consistently extended its market position. Accordingly, the group’s sales and earnings have more than doubled in the past six years. Measures implemented jointly between SCHOCK and HQ Equita include the internationalization of the customer base, e.g. by founding a subsidiary in the U.S., the introduction of new materials as well as the diversification of the business outside the kitchen segment with a successful debut in the bathroom market. Moreover, HQ Equita supported the upgrade and extension of the production site located in the Bavarian Forest with substantial investments in expansion, modernization and automation. In 2016 alone, over 100 new employees have been recruited so far at that location.

“This participation once again underscores the industrial approach adopted by HQ Equita,” said Dr. Michael Hönig, Senior Partner and Managing Director of HQ Equita, on signing the contract. “We invest in niche providers with market leadership that operate on a global scale, and we support international growth, product development and operational value gains.” Florian Wiemken, Senior Investment Manager at HQ Equita, added: “We’re convinced that in IK, SCHOCK has an ideal partner at its side to continue its successful development in the future.”

“IK has a strong track record within the sector, with investments such as Hansa Group, Nobia, TCM Group, and we are proud to have the opportunity to support the company and its talented management team going forward. Together, we believe there are significant opportunities to grow the business organically and through acquisitions while continuing to put the customers first,” said Detlef Dinsel, Partner at IK and advisor to the IK VIII Fund.

“The exceptional success in recent years would not have been possible without HQ Equita. For this reason, we wish to explicitly express our thanks for their close and simultaneously challenging and encouraging assistance and collaboration, in a spirit of mutual trust and confidence,” said Ralf Boberg, CEO at SCHOCK. “Under HQ Equita, SCHOCK succeeded in expanding to reach a new scale, including a new stage of its corporate development. We’re delighted to have found a new owner in IK who would like to continue supporting the further internationalization and extension of our production capacities,” said Sven-Michael Funck, CSO at SCHOCK.

The closing of this transaction is subject to the approval of the cartel authorities.

HQ Equita was assisted by the following consultants in the course of this transaction: William Blair (M&A), Alvarez & Marsal (FDD), KPMG (CDD), Watson, Farley & Williams (Legal, Tax, SPA), ERM (Environmental), Mesterheide (Insurance)

IK was assisted by the following consultants: Alantra (M&A), EY (Financial, Tax), goetzpartners (Commercial), Latham & Watkins (Legal), Golder (Environmental) and Marsh (Insurance)

 

Should you have any queries, the following contacts will be pleased to assist you:

HQ Equita
Hering Schuppener
Unternehmensberatung für Kommunikation GmbH

Sebastian Göb
+49 151 16 30 89 49

Kathrin Meyer
+49 160 53 60 965

presse@hqcapital.com

 

SCHOCK
GOOS COMMUNICATION GmbH & Co.KG

Ms Yvonne Deters
Geibelstrasse 46a, 22303 Hamburg, Germany
Phone: +49 (0) 40 284 17 87-20
E-mail: y.deters@goos-communication.com

 

IK Investment Partners
Detlef Dinsel, Partner
Phone: +49 40 369 88 50

Mikaela Hedborg, Communications & ESG Manager
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

 

About SCHOCK
SCHOCK is the inventor of the granite kitchen sink and has been the worldwide technology and quality leader in this field for over 30 years. The patented combination of quartz with top-quality acrylic forms a premium compound product that is three times as hard as natural granite and is also superior in terms of many product characteristics to kitchen sinks made from other materials (e.g. stainless steel, ceramics). The SCHOCK range of products comprises sinks for almost any conceivable kitchen style and taste. Customers in over 70 countries rely on SCHOCK products manufactured exclusively at the company’s headquarters in the Bavarian Forest. Further information is available at www.schock.de

 

About HQ Equita
HQ Equita is the mid-cap buyout firm of HQ Capital. HQ Capital combines investment expertise in private equity and real estate as well as direct investments in German companies under a single brand and has currently more than US$11 billion assets under management. HQ Equita continues the Harald Quandt family’s tradition of acquiring entrepreneurial equity interests in SMEs. HQ Equita is considered an experienced provider in the German-speaking direct investment market. Since its inception in 1992, the company has obtained a total of 830 million euros in capital commitments and has taken stakes in over 30 enterprises over time. HQ Equita’s clients comprise institutional investors, family offices, foundations & trusts as well as renowned entrepreneurial families – including the Harald Quandt family. Further information is available at www.hqequita.com

 

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France and Benelux. Since 1989, IK funds have raised more than €7.5 billion of capital and invested in over 100 European companies. IK funds support businesses with strong underlying potential, partnering with management teams to create robust, international leaders with excellent long-term prospects. For more information, please visit www.ikinvest.com

Frankfurt, April 4, 2016. HQ Equita, the mid-cap buyout firm of HQ Capital, today announced that Torsten Krumm has been appointed as a Managing Director and Senior Partner, effective April 1st. Mr. Krumm joins the partner team around Dr. Michael Hönig, Senior Partner and Managing Director, and Hans J. Moock, Partner and Managing Director. The appointment expands HQ Equita’s network as Mr. Krumm will contribute his extensive experience in the German SME segment and improve access to international investors.

“Torsten Krumm is an industry expert with many years of experience in the field of direct investments,” says Dr. Michael Hönig. “We’re delighted to welcome Torsten to our team and are confident that with his expertise, we will continue to successfully expand HQ Equita’s and our holding companies’ businesses.”

HQ Equita is a subsidiary of HQ Capital, one of the leading independent providers of alternative investments in Germany. HQ Equita’s investors include institutional investors, foundations and family offices, including the one of the Harald Quandt family. The company currently has capital commitments worth 450 million euros and holds shares in ten portfolio companies.

“HQ Equita’s approach to small and medium-sized enterprises is to work closely with management teams and shareholders in a spirit of partnerships. The network and approach have proven to be successful and provide critical value creation,” says Mr. Krumm. “I look forward to contributing my operational and transaction experience and I am thrilled to be joining the management and the entire team in shaping the future of HQ Equita.”

Mr. Krumm has over 18 years of experience in investment management in the European SME segment. Before he joined HQ Equita, he spent six years as co-head and Managing Partner at the private equity firm Odewald & Compagnie. Prior to that, Mr. Krumm worked for over eight years as a managing Director of Apax Partners, where he executed and handled numerous investments in SMEs. He also spent ten years working in managerial positions with Intel Cooperation in Europe and Asia. He was responsible for establishing Intel Capital in Europe and was in charge of its M&A and investment operations in Europe in his role as a Director.

Mr. Krumm is a graduate in communications engineering and earned an Executive MBA from the Insead Business School.