HANNOVER Finanz and Mackprang Announce Agreement for the Sale of Shares in the Schlemmer Group

HANOVER and HAMBURG, Germany, May 31, 2016 /PRNewswire/ --

The international investor 3i Group plc, together with the management, is to take over 100 percent of the shares in the automotive component supplier based in Poing, near Munich. For the HANNOVER Finanz Group, which currently holds around 70 percent of the shares, this is one of the largest transactions in its nearly 40 year-old history. The final closing of the deal is subject to approval by the cartel authorities, and as usual, the parties have agreed not to disclose the purchase price. 

The HANNOVER Finanz Group made its investment in Mackprang Holding GmbH & Co. KG, the parent organization of the Schlemmer Group and several logistics companies, in 2012. HANNOVER Finanz and Mackprang implemented a reorientation of the Group, first selling the logistics companies, and concentrating together with the management on growth at Schlemmer, a specialist for cable protection systems and connectors. The signing of the purchase agreement is also an expression of the company's successful further development. During the equity capital partnership, the Schlemmer Group continued to grow strongly on international markets, and now comprises 31 companies with 23 production facilities worldwide. In 2015, the business achieved sales of 263 million euros (including all sales of the joint venture in China) - compared with 179 million euros when the investment was made in 2012.

Andreas Schober, Chairman of the Board of the HANNOVER Finanz Group comments as follows: "Together with all those involved, we reached our target more rapidly than we had planned. Now, Schlemmer will press ahead in its next stage of growth with an international investor. Schlemmer is one of the most successful transactions in the almost 40 year-old history of the HANNOVER Finanz Group. With our commitment, we made a decisive contribution to the development of the Schlemmer Group, a medium sized enterprise with global operations."

Dr. Uwe Hautz, a member of the Advisory Board of Schlemmer GmbH and former Managing Director of Mackprang Holding, reviews the partnership: "The restructuring of the Mackprang Group was a step towards a clear, future-oriented strategic alignment. Our partner HANNOVER Finanz enabled us to strengthen our equity capital base and implement further growth."

Josef Minster, CEO of Schlemmer, said: "We are delighted to be partnering with 3i for the next stage in our global growth story. During the past four years, Schlemmer developed very well under the ownership of HANNOVER Finanz and the Mackprang Family. I'm convinced that in future, Schlemmer will greatly benefit from 3i's deep experience and strong track record in the automotive industry, as well as from its international network."

The representatives of the HANNOVER Finanz Group involved in effecting the transaction were Claus von Loeper, Jürgen von Wendorff, Jörg Caesar and Dr. Christina Silberberger.

About the Schlemmer Group 

The Schlemmer Group is a global technology expert, which has focused on the development and production of highly specialized synthetics solutions. Building on 60 years of experience in cable protection, the group of companies headquartered in Poing, Upper Bavaria, has become one of the leading and most comprehensive value added partners, supporting its clients as an intelligent consulting and service partner. In addition to the core Automotive business area, the Schlemmer Group also pursues activities in a wide range of other sectors with its Industry and Appliances business areas. Over 60 sites throughout the world, 23 production plants at strategically important locations and a mobile factory enable the company to simultaneously implement global strategies and enjoy a local presence in development production and sales. The company's over 2,500 employees generated total consolidated sales of 263 million euros in 2015 (including all sales of the joint venture in China).

Further information: http://www.schlemmer.com and http://www.schlemmer-ecotech.com

Schlemmer Group at Facebook: https://www.facebook.com/schlemmer.group

About Mackprang 

The Mackprang family business was founded under the name of C. Mackprang jr. GmbH & Co. KG as a trading company for agricultural raw materials in 1878. The Hamburg-based company started in the 1960s to pursue a strategy of increasing diversification. In 1963, Mackprang acquired an interest in Schlemmer GmbH, taking over 100 percent of the shares in 1979. In the 1980s and 1990s, Mackprang expanded its activities with the establishment of the logistics companies Süderelbe Logistik GmbH, CM Eurologistik GmbH and UNISPED Logistik GmbH. Both groups of companies belonged to Mackprang Holding GmbH & Co. KG, which the HANNOVER Finanz Group joined as the majority shareholder in 2012. The original trading company C. Mackprang jr. GmbH & Co. KG, in contrast, continued its trading operations in agricultural commodities as an independent enterprise with the previous shareholders, and was finally sold by them in 2014.

About the HANNOVER Finanz Group 

The HANNOVER Finanz Group, founded in 1979 and backed by institutional investors, has over 37 years of experience as a private equity investor. The basis of its investments in medium sized enterprises, intended for the long term, is the currently seven active evergreen funds with unlimited duration. The investors are mainly insurance companies or professional pension funds. HANNOVER Finanz's commitments extend from old economy industries to commerce and the new technologies. Since its foundation, the equity capital partner for medium sized enterprises has grown continuously, and with it the number of successfully completed investments has also grown. The reasons for involvement are mainly to finance growth and corporate succession in sound businesses with annual sales of at least 20 million euros. The HANNOVER Finanz Group is one of the few private equity houses in Germany to take on minority as well as majority shareholdings

Text:
Jantje Salander, Head of Corporate Communications,
HANNOVER Finanz Group, Günther-Wagner-Allee 13, D-30177 Hannover
Tel.: +49-(0511)-2-80-07-89, Mobile: +49-(0160)-6-33-72-04, Fax: +49-(0511)-2-80-07-37
Email: salander@hannoverfinanz.de , Internet: http://www.hannoverfinanz.de