Raue LLP has advised the management team of automotive supplier Schlemmer on its acquisition by international investor 3i Group. The management team will also hold a significant equity stake. Schlemmer is being purchased from private equity firm Hannover Finanz and the Mackprang Holding. The parties have agreed to keep the purchase price confidential.
Founded in 1954 and headquartered in Poing, close to Munich, Schlemmer develops and produces cable protection for automotive and industrial applications. The group employs 2,500 people globally, and generated gross sales of 220.2 million Euros in 2015 (including 50 percent of the sales generated by the joint venture in China). Over the past 20 years, Schlemmer has successfully grown internationally, which is reflected in a double digit annual revenue growth rate. The company operates a global manufacturing network of 23 plants in 14 countries.
3i is a leading international investment manager focused on mid-market private equity, infrastructure and debt management across Europe, Asia and North America.
(1 June 2016)