Moeller Group of Companies
Strengthened by New Investor Advent International Funds Acquire
Moeller Group of Companies.
Bonn, 10th December 2003 - Funds advised by
Advent International Corporation Boston have acquired 100%
of Moeller Group of Companies, one of Germany's largest privately
owned industrial and buildings electronic component producers.
Advent International is one of the largest international private
equity groups, with offices and affiliates in 25 countries
with a combined enterprise value of over Euro 10bn. The value
of the acquisition has not been disclosed.
As a result of the transaction, the capital structure of
the company founded in 1899 will be improved and a platform
is created for its successful growth and enhanced competitiveness.
Commenting on the transaction, Ralf Huep of Advent International
said: "As a world-class company with strong market position,
a portfolio of high quality products and an excellent customer
base, Moeller has great future potential. Our plan is to work
with the management to refocus the business on its core strengths,
to increase its market penetration, and to take advantage
of global growth markets. We will continue the streamlining
process which was initiated by the company several months
ago, to optimize the company's business processes and to increase
it's profitability."
The existing management team of Theo Kubat (CEO), Robert
Gaertner (CFO), and Jaochim Goeddertz will be joined by two
new board members, Uwe Alwardt and Dave McLemore, both of
whom have considerable experience and a proven track record
in the electronics/industrial technology sector.
This commitment from Advent International, as well as a reinvigorated
business strategy for Moeller was instrumental in securing
continued support from a banking consortium led by Commerzbank
AG. Thomas Boehm, speaking for Commerzbank as pool leader
of the bank consortium said: "We are pleased that the
bank consortium that traditionally financed Moeller Group
will continue to support the business in the future. It is
indicative of the confidence that we have in the partnership
between Moeller and Advent International and in the successful
future of the company."
In supporting this move, former shareholders, the Moeller
family assured the future of the Moeller Group. Gert Moeller
took over the business from his father in 1962 and has headed
the business successfully for over 40 years.
Theo Kubat, CEO and Robert Gaertner, CFO of Moeller's Management
Board said: "With Advent on board, we will be able to
further expand our market position and to successfully follow
our customers on the global market. Thereby and together with
our employees, we allow for the permanent future development
of our product portfolio on a high technical level. The brand
Moeller will in future play an even more decisive role!"
About Moeller Group of
Companies
Headquartered in Bonn, Moeller has approximately 11,000 employees
worldwide, generating annual revenues of approximately 1 billion
euro from 32 production facilities. As one of the large global
component producers, Moeller distributes products into more
than 80 countries around the world, selling directly to industry,
distributors, and wholesalers. The company enjoys a strong
position in the growing European low voltage components, automation,
and system markets. Founded in 1899 and renamed in the 1940's
to "Kloeckner-Moeller", Moeller experienced steady
growth over the following decades, based on its technological
expertise and its close customer relationships. In the late
1999s, Kloeckner-Moeller successfully continued to broaden
its product range and undertook several acquisitions, eg of
Felten & Geuilleaume AG in 1998. "Kloeckner-Moeller"
was renamed "Moeller" in 1999 and in 2000, Moeller
successfully initiated selected business areas. The Moeller
Group has a diversified global sales network with more than
40 sales subsidiaries and distributes products into more than
80 countries around the world.
Contact at Moeller Group of Companies, Bonn
Dirk Bolz - Head of Corporate Communication
Telefon: +49(0) 228 602 2915
Fax: +49(0) 228 602 2275
Email: presse@moeller.net
Internet: www.moeller.net
About Advent International
Advent International (www.adventinternational.com) is one
of the largest, longest-established, and most experienced
international private equity groups. Its coverage is the broadest
of any private equity house, with offices and affiliates in
25 countries across Western and Central Europe, North America,
Latin America, and Asia Pacific. Since its inception, Advent
International funds have invested in over 500 companies in
35 countries, thereof in over 120 companies in Europe with
a combined enterprise value of over Euro 10bn. 129 of the
invested companies have floated on 20 exchanges around the
world.
Contact at Advent International GmbH, Frankfurt
Ralf Huep - General Manager
Telefon: +49(0) 69 955 2700
Fax: +49(0) 69 955 2720
Email: rhuep@germany.adventinternational.com
Internet: www.adventinternational.com |
