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DGAP-Media / 2018-06-13 / 08:30
*HQ Equita acquires the leading packaging machine manufacturers FAWEMA and
HDG (Steindl Group) and establishes The Packaging Group*
*- *The Packaging Group ("TPG") is a leading developer and manufacturer of
high-quality packaging machines, particularly for packaging food in various
types of paper or plastic bags
- Through organic growth and acquisitions, TPG will be developed into a
globally active platform in the packaging machinery market
- The owners of the newly founded holding company combine operational
expertise, a broad, strategic industrial network and the necessary financial
strength
- This transaction underpins HQ Equita's extensive experience in the
packaging machinery industry
- Peter Steindl reinvests significantly; Friedbert Klefenz also invests
*Bad Homburg, 13 June, 2018*. HQ Equita has signed an agreement to acquire a
majority stake in the Steindl Group, which consists of the leading packaging
machine manufacturers FAWEMA GmbH ("FAWEMA") and HDG Verpackungsmaschinen
GmbH ("HDG"). These companies together will now operate as The Packaging
Group.
The Steindl Group's previous Managing Partner, Peter Steindl, who acquired
FAWEMA in 2006 and HDG in 2011, will continue to hold a significant stake in
the newly founded TPG Holding GmbH and will play a central role in its
operations. Friedbert Klefenz, former CEO of Bosch Packaging, will complete
TPG's Advisory Board as a competent industry expert. Mr. Klefenz invests in
TPG Holding along with the company's further management. In addition, Markus
Hüllmann, former board member of GEA Group AG, will enhance the Advisory
Board.
FAWEMA, founded in 1920 and based in Engelskirchen, and HDG, founded in 1984
and based in Lindlar, already hold leading competitive positions in their
respective markets. They specialize in the development and manufacturing of
packaging machines for filling dry, free-flowing bulk materials into various
types of paper or plastic laminate bags. The machines offer packaging
solutions for flour, sugar, baking mixtures, confectionery, animal feed and
various chemical products. The product portfolio includes servo- and
cam-controlled horizontal form, fill and seal machines with rotary system
(HDG), as well as servo-controlled high-performance packaging machines with
chamber transport, and vertical, intermittent and continuous form, fill and
seal machines (FAWEMA). The product range is completed by appropriate dosing
and levelling systems. The service and spare parts business also accounts
for around a quarter of TPG's sales. With Mr. Steindl's operational
expertise, Mr. Klefenz's strategic competence and industry network, as well
as HQ Equita's financial strength, TPG's sales and service networks will be
strengthened internationally, the aftermarket business will be accelerated
and new machine solutions for additional applications will be developed,
thus diversifying the product portfolio. The strategy will be enhanced by
targeted acquisitions to expand technical expertise, end applications and
geographical reach.
Peter Steindl, former Managing Partner of the Steindl Group and designated
Chief Executive Officer of TPG, underlines the industrial logic of the
transaction: "With HQ Equita and Friedbert Klefenz as well as Markus
Hüllmann we have found the ideal partners for FAWEMA and HDG to take the
next big step, with both companies now operating as The Packaging Group to
create a global platform."
Friedbert Klefenz, designated Chairman of the Advisory Board of TPG, adds:
"I look forward to using my experience and my network to continue the
success stories of FAWEMA and HDG as The Packaging Group. The attractive and
rapidly growing packaging machinery market is characterized by consolidation
tendencies. I see great potential in the M&A area in particular."
Hans J. Moock, Managing Director of HQ Equita, emphasizes that the
transaction documents HQ Equita's broad experience in the packaging
industry: "We are very pleased to have won two top companies with strong
positions in their markets: FAWEMA and HDG."
Christine Weiß, Partner of HQ Equita adds: "We know the packaging
machinery market very well and have already shown that we are able to
successfully exploit attractive growth opportunities and global trends, such
as the increasing importance of flexible packaging solutions."
The parties have agreed not to disclose the purchase price and other details
of the contractual agreement. The closing of the transaction is expected for
the second half of June.
The Steindl Group was supported in the transaction by the following
advisors: Hake Consulting (M&A, Finance), Rentrop & Partner (Taxes) and
Fritsch Graf Horsten (Law, Purchase Agreement).
HQ Equita was supported by Munich Strategy (CDD), Ebner Stolz (FDD), ERM
(Environment, ESG) and Watson, Farley & Williams (Law, Sales Contract,
Taxes).
*Media Contact*
Anna Mareen Steudel
CNC - Communications & Network Consulting
Telefon: +49 69 50 60 37 567
Email: press@hqcapital.com
*About FAWEMA GmbH and HDG packing machines Ltd (Steindl-Group)*
The Steindl Group essentially consists of the leading packaging machine
manufacturers FAWEMA GmbH ("FAWEMA") and HDG Verpackungsmaschinen GmbH
("HDG").
FAWEMA ("Factory for Tools and Machines"), founded in 1920, is a leading
developer and manufacturer of packaging machines for filling dry,
free-flowing bulk materials into various bag types made of paper or plastic
laminates. The machines offer packaging solutions for flour & baking mixes,
sugar, food & sweets, pet products and chemical powders. The product
portfolio includes servo bag packers, cam driven packers, vertical fill seal
packers (VFS), vertical form fill and seal machines (VFFS), bundler &
collators and special machines. In 2006 Peter Steindl acquired the company
from M.A.X. Automation GmbH as part of a management buyout. FAWEMA has
operated sales and service branches in East Africa and the USA since 2017 in
order to meet the growing local demand for packaging machines in these
markets. FAWEMA employs 122 people at its headquarters in Engelskirchen and
service technicians worldwide. More information can be found at:
www.fawema.com [1].
HDG was founded in 1984 and employs approximately 80 people at its
headquarters in Lindlar. The company specializes in the development and
manufacturing of packaging machines for the food, pharmaceutical, chemical,
cosmetics and pet food industries. The product portfolio includes includes
horizontal form, fill and seal machines (HFFS Pouch) as well as dosing and
levelling systems. HDG operates a worldwide service network consisting of
numerous representative offices and service employees. In 2011 Peter Steindl
acquired the company from the son of HDG founder Christof Glindemann. More
information can be found at: www.hdg-packaging.com [2].
*About HQ Equita*
HQ Equita is the direct investment company of HQ Capital. It continues the
tradition of the Harald Quandt family, to take entrepreneurial interests in
medium-sized companies in the DACH region (Germany, Austria and
Switzerland). HQ Equita is one of the most experienced equity capital
providers in the German-speaking market. Since its foundation in 1992, the
company has raised capital commitments totaling more than one billion euros
and has invested in more than 30 companies. The group of investors behind HQ
Equita includes institutional investors, family offices, foundations and
entrepreneurial families - such as the Harald Quandt family. For further
information please refer to www.hqequita.com [3].
End of Media Release
Issuer: HQ Capital GmbH & Co. KG
Key word(s): Finance
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(END) Dow Jones Newswires
June 13, 2018 02:29 ET (06:29 GMT)
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