Direct Investment

NORD Holding and capiton AG acquire Engelmann Sensor GmbH

24.06.2014

The family business Brendecke has sold a majority stake in Engelmann Sensor GmbH to a consortium consisting of NORD Holding Unternehmensbeteiligungsgesellschaft mbH (Hannover) and capiton AG (Berlin) as part of its succession planning. The parties have agreed not to disclose financial details.

Engelmann Sensor GmbH was founded in 1976 and acquired by the Brendecke family in 2002. Since then the company has become one of the European market leaders in electronic meters for the measurement of thermal energy. The range of products, including electronic water meters, radio modules and the newly developed heat cost allocators, covers an important part of the increasingly important smart metering market. With approximately 150 employees at its headquarters in Wiesloch (Baden-Württemberg) and a production and sales company in China, Engelmann has achieved sales of approximately € 35 million. In cooperation with Engelmann, NORD Holding and capiton will pursue a growth strategy in Germany and continue expansion in international markets.

“Engelmann has undergone an impressive development in recent years. As an innovative company in the smart metering segment, Engelmann provides an ideal platform for continuing the company‘s growth. This will especially focus on the further expansion of foreign markets,” said Thomas Bagusch, managing director of NORD Holding, in Hannover today.

The consortium will allow the company to enter into strategic partnerships and make further investments in the products as well as production and sales.

Both financial investors have been leading private equity investors for mid-size German SMEs for decades. Their activities focus on the structuring and financing of corporate succession models, the disentanglement of business units from large corporations (carve-outs/spin-offs) and growth financing of medium-sized companies.

Due to our personal plans as a family, the right time had come to transfer the majority of the company to a strong partner who can accompany further growth through solid financing. It was particularly important to us to put the company in the right hands to continue the successful strategy of recent years and thus strengthen long-standing national and international customer relations. We and the management are convinced that with NORD Holding and capiton we have found two expert investors for the next phase of growth.

Nancy Kublin Brendecke
Explaining the reasons for the sale.

About NORD Holding

With its 50-year history and over € 2.0 billion Assets under Management, NORD Holding is one of the leading Private Equity Asset Managers in Germany with a focus on direct and fund investments.

The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.

The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.

NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.

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