Direct Investment

NORD Holding supports succession process at Uhlig Rohrbogen GmbH

11.06.2010

NORD Holding Unternehmensbeteiligungsgesellschaft mbH, Hanover, has acquired Uhlig Rohrbogen GmbH, Langelsheim (Harz) as part of a management buy-out. Uhlig Rohrbogen GmbH in Langelsheim specializes in the manufacture of tailor-made elbow pipes for industrial facilities and weld metal overlay of pipe systems.

Uhlig products are used in gas pipelines, waste incineration plants and in industrial facilities.

As part of their succession solution the previous shareholders were seeking investors with a longer term investment horizon. They therefore approached NORD Holding and initiated negotiations. "With these considerations in mind we have found in NORD Holding a partner whose long term investment strategy is in line with SME thinking and who is reading from the same page as ourselves", explained Willi J. Lauer, exiting managing partner.

In addition to NORD Holding, a family company based in Lower Saxony as well as the managing director Wolfgang Hoffmeister have taken a stake in the company. The acquisition is subject to approval by the anti-trust authorities.

Despite challenging economic conditions the company is expected to achieve sales of € 35 mil. for the financial year 2010 with aheadcount of approx. 150. Future expansion is expected at the location in Langelsheim due to renewed positive market conditions for domestic and international industrial facility construction.

In contrast to the majority of other financial investors who manage only temporary funds, NORD Holding operates as a so-called"evergreen" without any time limitation. This gives the holding company the opportunity to develop without any external pressure and to tap its growth potential.

With almost 40 years' experience NORD Holding is one of the leading private equity companies serving the medium-sized sector. Its activities focus on the structure and funding of succession issues for middle market companies, spin-offs and expansion stage funding for medium-sized companies. Shareholders in NORD Holding include a number of savings banks and public insurance companies.

With Uhlig we wish to return to the old growth path. Its strong market position combined with existing innovation and production know-how offer good prerequisites for achieving this.

Matthias Kues
CEO of NORD Holding

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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