VR Equitypartner sells majority interest in vohtec Qualitätssicherung GmbH
Frankfurt am Main/4 June 2018 - Frankfurt-based private equity firm VR Equitypartner is selling its majority interest in vohtec Qualitätssicherung GmbH (Aalen) to materials testing specialist Element Materials Technology. A corresponding agreement was signed on Friday. The disposal is still subject to anti-trust approval.
VR Equitypartner acquired its interest in vohtec in 2013. The company, which was founded in 1997, is one of the market leaders in destructive and nondestructive materials testing, and develops comprehensive quality assurance solutions for customers worldwide.
The company's growth was continuously advanced during its investment phase, and its customer base and geographic orientation were expanded. From as early as the first year of investment, vohtec expanded its capacity at its Altbach site to include a second plant for dry penetrant inspection. This location thereby became Europe's second-largest penetrant centre. In 2014, vohtec acquired a wholly-owned interest in an affiliated company offering services in the destructive materials testing area. The range of services meanwhile comprises around 30 different quality inspection procedures. In the same year, the third vohtec location was opened in Garching near Munich. The works received a new computer tomograph with a walk-in radiation protection bunker for high-precision volumetric and defect analysis. Following further investments in inspection technology and an expansion and reorganisation of office premises, a merger with Böllinger Qualitätssicherung GmbH & Co. KG in Bad Friedrichshall was realised in 2016. Since 2017, vohtec has also been active as a GE Channel Partner, marketing General Electric's ultrasound equipment and eddy current technology.
"We are satisfied that after the past joint years of successful history we have been able to transfer vohtec into good hands," comments Christian Futterlieb, Managing Director at VR Equitypartner.
Headquartered in London, the new owner - Element Materials Technology, is one of the fastest growing testing, inspection, and certification businesses in the world. With over 6,200 members of staff which operate out of nearly 200 laboratories in more than 30 countries, Element provides a comprehensive range of materials and product qualification testing, consulting, certification and calibration services to the global Aerospace, Transportation & Industrials, Fire & Building Products and Oil & Gas and Infrastructure sectors.
"Element pursues a targeted add-on strategy. Acquired companies largely retain their independence, which was an important factor behind our willingness to commit to this transaction. vohtec also offers an outstanding fit with Element Material's product range in the automotive area in Europe," as Christian Futterlieb added.
Both managing shareholders Roland Vogt (co-founder of vohtec) and Gernot Kolb will stay on board after the change of ownership. "Over the past years, VR Equitypartner has intensively and continuously helped vohtec become even more successful, less dependent on individual customers, and significantly expand its range of services," notes Roland Vogt. "Today we are developing comprehensive quality assurance solutions for customers in all materials testing areas - an achievement of which we are proud."
VR Equitypartner GmbH in brief:
VR Equitypartner ranks as one of the leading private equity companies in Germany, Austria and Switzerland. Commanding decades of experience, the company focuses on assisting medium-sized family companies in the strategic resolution of complex financing issues. Investments derive from growth and expansion financing as well as corporate succession and changes of shareholders. VR Equitypartner provides both majority and minority investments as well as mezzanine financing. As a subsidiary of DZ BANK, the leading institution for cooperative banks in Germany, VR Equitypartner consistently prioritises the sustainability of corporate development above short-term exit thinking. The VR Equitypartner portfolio currently comprises around 100 investments with an investment volume of EUR 500 million.
Further information is available online at www.vrep.de.
Advisory houses involved in transactions by VR Equitypartner:
Financial Fact Book and Financial Vendor Assistance by TAP Dr. Schlumberger Krämer Pothorn & Partner mbB, Munich, Auditors/tax advisers Jörg Endras Fabian Seebeck
Legal advice by HEUKING KÜHN LÜER WOJTEK
Dr. Rainer Herschlein (management)
Benedikt Raisch (corporate law, M&A)
Cornelia Schwizler (corporate law, due diligence)
Dr. Stefan Bretthauer (anti-trust law)
Fabian Gaffron (tax law)
Dr. Antonia Stein (employment law)
VR Equitypartner GmbH
Head of Marketing and Public Relations
Tel. 0049 69 710 476-482
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