Corporate | 11 April 2007 08:34
CFC Industriebeteiligungen GmbH & Co. KGaA / Miscellaneous Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- ++ CFC Industriebeteiligungen acquires Elcon Systemtechnik GmbH ++ Communication-systems supplier with high profitability upside The private equity company CFC Industriebeteiligungen GmbH & Co. KGaA today announces the complete takeover of all shares of Elcon Systemtechnik GmbH, Hartmannsdorf, from the actual shareholder. Going along with this transaction, CFC is planning to take over most of outstanding creditors’ liabilities at a reasonable discount. Founded in 1990, Elcon is one of the leading suppliers of telecommunication systems and, besides others manufactures hard- and software for broadband telecommunication networks. Elcon is going to focus even more on the development of aligned systems for the optimisation of networks in the future. Thereby, the company will be perfectly positioned as complementary supplier. The company headquartered in Saxony generated in the last fiscal year with around 160 employees a turnover of approximately € 27 mn. Although the purchase agreement contains closing conditions in favour of CFC, the management is convinced to be able to conclude the closing within a couple of weeks. Marcus Linnepe, CEO of CFC, is very pleased about the transaction: 'We are happy for being able to find a highly promising investment with Elcon. Together with the new management around the sector expert Werner Neubauer we are convinced to be in the position of raising the full earnings potential of Elcon in the foreseeable future.' About CFC Industriebeteiligungen GmbH & Co. KGaA CFC (www.cfc.eu.com) is a private equity company that acquires and restructures enterprises in crises situations. Investments are only conducted, if the companies – despite the crises – are disposing of at least some sound core business activities. The central decision criteria pro or contra a takeover is the so called '100-days plan': Before an investment is done it has to be foreseeable that three months after the acquisition through CFC an adequate set of activities can be realized to solve the crises and set the basis for long-term profitable growth. CFC Industriebeteiligungen GmbH & Co. KGaA Dr. Oliver Serg Phone: + 49 (0)231 95 25 174 E-mail: os@cfc.eu.com DGAP 11.04.2007 ----------------------------------------------------------------------