We advised GEA Group
GEA Group Aktiengesellschaft, Bochum, Germany
GEA Group is a global active technology group focusing on specialty mechanical engineering businesses – especially process engineering and equipment. In 2006, 17,500 employees generated Group sales of more than EUR 4.3 bn.
Lentjes GmbH, Dusseldorf, Germany
Lentjes GmbH designs, supplies and engineers turnkey industrial plants, specializing in processes, technologies and components for the industrial use of energy from fossil fuels and regenerative power generation from biomass and waste products. The company generated sales of EUR 466 m and EUR 266 m in 2005 and 2006, respectively.
A-Tec Industries AG, Vienna, Austria
A-Tec Industries AG is international industrial group with successful operations in drive systems, plant engineering, machine tools and metallurgy. The Group currently employs around 11,000 people worldwide. The preliminary results for 2006 show revenues of EUR 1.6 bn. A-Tec Industries AG is listed at the Vienna stock exchange with a current market capitalization of EUR 1.1 bn.
As of May 2, 2007, GEA Group sold its plant engineering subsidiary Lentjes GmbH, Duesseldorf, to a subsidiary of A-Tec Industries AG. In addition to the nominal purchase price of EUR 1, the buyer has agreed to inject a double digit million Euro amount to strengthen Lentjes GmbH’s equity base. Chances and risks of Lentjes’s current projects and orders have been negotiated and allocated to buyer and seller individually for every single project. The transaction is subject to approval by the antitrust authorities.
HSCie advised the vendor in the entire sales process, i.e. Hübner Schlösser & Cie approached interested parties worldwide, prepared the information memoranda and presentations, managed due diligence examinations with prospective buyers, organized the communication process and advised in the negotiations. This transaction, as many transactions in the plant engineering business, was highly complex due to the particularity of individual project risks as well as of underlying the financing and guarantee structures.
Transaction value: Not published
Industry: Engineering and plant construction
Business field: Mergers and Acquistions