Corporate | 7 June 2016 18:06
INDUS acquires global niche market leader
|
DGAP-News: INDUS Holding AG / Key word(s): Takeover
INDUS acquires global niche market leader
Bergisch Gladbach, 7 June 2016 – As already announced for the current year, INDUS has strengthened its portfolio by acquiring another company in the construction sector. The purchase agreement for H. HEITZ Furnierkantenwerk GmbH & Co. KG headquartered in Melle was signed today. The transaction is subject to approval by the Federal Cartel Office. The HEITZ Group produces edge and wrapping veneer made of genuine wood for the furniture and construction industries. The company claims to be one of the world’s largest manufacturers in this segment. The company manufactures its products at its headquarters in Melle as well as at its plant in Pusztaszabolcs, Hungary (50 km south of Budapest), and also has a subsidiary in Heath, Ohio, USA. As the edge veneer market is an international market, HEITZ currently has an export share of about 70%. In the past fiscal year 2015/16 (ended 31 March 2016), the Group’s some 300 employees generated sales revenues of approximately EUR 30 million. The broad customer base includes primarily manufacturers of furniture, trade and retail customers as well as enterprises from the wrapping, doors and windows industries. In past years, HEITZ benefitted significantly from two trends: the increasing streamlining of production processes in the furniture industry by outsourcing part of the value chain and customers’ growing demand for high-quality furniture also in the lower price segment. Today, HEITZ thus supplies, for example, edge veneer for one of the best-selling pieces of furniture around the world: IKEA’s “BILLY” bookcase. “In the HEITZ Group, we have acquired a highly profitable international market leader in a niche market that was looking for a long-term investor to place the company into new hands,” says Jürgen Abromeit, CEO of INDUS. “This is sort of a prototype of a classical INDUS deal. At the same time, it has strengthened our portfolio in one of our traditional segments. In view of the booming construction industry in Germany and the continued international trend towards high-quality furniture, HEITZ is not only an attractive investment for us, but also a good opportunity to grow further.” The two current managing main shareholders, Guido and Ralf Heitz, have sold the company to INDUS in the context of a succession plan, but will remain in place as managing directors. “We have deliberately chosen INDUS because of its excellent reputation in the company succession market and because we can rely on its promises in the long term. INDUS will make additional investments and ensure the further development of the company. This illustrates our strong belief in a successful future of HEITZ, especially for our employees,” Guido Heitz explains the rationale behind their decision. Contact: Regina Wolter Corporate Communications & Investor Relations Phone +49 2204 4000 70 E-Mail wolter@indus.de
2016-06-07 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
|
| Language: | English | |
| Company: | INDUS Holding AG | |
| Kölner Straße 32 | ||
| 51429 Bergisch Gladbach | ||
| Germany | ||
| Phone: | +49 (0)2204 40 00-0 | |
| Fax: | +49 (0)2204 40 00-20 | |
| E-mail: | indus@indus.de | |
| Internet: | www.indus.de | |
| ISIN: | DE0006200108 | |
| WKN: | 620010 | |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart | |
| End of News | DGAP News Service |