January 1, 2005

Equita fund takes on stake in AHT

New owner of the Austrian specialist for cooling cabinets, AHT, will be a Fund managed by Equita Management GmbH, Bad Homburg (“Equita”). AHT management will continue as minority shareholders. The new owner will take over the shares of AHT Management GmbH, the holding company of the operating subsidiary AHT Cooling Systems GmbH & Co. KG, as of 1 January 2005 from the former owner Quadriga Capital.

AHT is a market leader for plug in cooling cabinets in the business sectors supermarket equipment, ice cream cabinets and bottle cooling equipment.

Equita, the private equity arm of the Harald Quandt Group, is an investor in German speaking midcap companies for more than 14 years. Werner Quillmann, managing shareholder of Equita, defines his goals for the investment as follows: “AHT has the potential to become a global market leader for plug in cooling systems. We will actively support management and employees on their expansion route.” Equita will continue the strategy of the former owners.

The new owner is also positively regarded by management and employees: “We view Equita as an ideal partner for the international expansion while at the same time strengthening the local presence of Rottenmann / Steiermark” comments Hans Aage Jörgensen, a managing director of AHT, on the ownership succession.

Quadriga Capital acquired the shares of the former stock-listed AHT in 2002. Since that time non core activities were spun off with a view to focus on industrial cooling systems only. The number of employees increased to 540. During the sale process Quadriga was advised by Drueker & Co., Frankfurt am Main.

Quadriga specialises on the acquisition of midcap companies. Focus of the private equity group are succession solutions, corporate spin offs, expansion financings and financial support of strategic realignments.

Equita Management GmbH, Bad Homburg, a private equity arm of the Harald Quandt Group, invests for more than 14 years in midcap and family owned companies focussing on expansion and growth financing as well as on succession situations.

Drueker & Co. is one of the large European M&A houses, successfully advising on transactions during the last years of a cumulative value of more than € 10 billions.