Friedberg, Germany, October 16, 2006 – The EQT Opportunity Fund (“EQT”) is pleased to announce that it has signed an agreement with the Pfaff Family to acquire a majority stake in Pfaff-silberblau. The acquisition of Pfaff-silberblau is done through a capital increase and is subject to approval from relevant competition authorities. The Pfaff family will remain share¬holders in the company.
“The management is very satisfied that such a strong financial partner as EQT has been found as the new majority owner of Pfaff-silberblau. We are happy that EQT, with its industrial approach and wide network, supports our current business strategy. The EQT investment, will help us to capture the full potential of the company”, said Martin Kutschka, CEO of Pfaff-silber¬blau.
Christoph Pfaff, representative for the Pfaff family, which will continue to be a shareholder in the company, was very pleased about the transaction: “EQT is a truly extraordinary shareholder for Pfaff-silberblau, as the fund combines features of the highly successful business of the Swedish Wallenberg family with the financial strength and know how of an experi¬enced private equity investor.”
“We are convinced that Pfaff-silberblau is acting in a very interesting and growing industry. The development potential of the operations and the committed employees were major reasons for our investment decision”, said Ernst Ludes, Partner at EQT Partners. “We are also very happy to an¬nounce that Mr. Sven Stork, who is a proven Chairman and former CEO within the EQT network, has accepted the chairmanship of the future Pfaff -silberblau board.
Founded over 135 years ago and headquartered in Derching/Friedberg, Germany, Pfaff-silberblau employs 325 people and generated a turnover of approximately € 64m in 2005. Pfaff-silberblau belongs to the technology leaders in the field of material lifting and handling of heavy weights and is also one of the most important players within the area of actuator technol¬ogy.
The EQT Opportunity Fund was launched in the beginning of 2006 and makes impact investments in medium sized companies which have a sound underlying business and a clear value creation potential, but which also face problems requiring special expertise to resolve. The Fund is active in North¬ern Europe and in the German speaking countries.
EQT is a group of private equity funds that manages approximately € 6 billion in equity in 8 funds. EQT Partners, acting as investment advisor to all EQT funds, has offices in Stock¬holm, Copenhagen, Helsinki, Frankfurt, Munich and Hong Kong. EQT realises its business concept by acquiring and developing high-quality medium sized companies in Northern Europe and Greater China. EQT serves as an active owner and works in close co-opera¬tion with the management of the companies it acquires, to develop and implement value-enhancing strategies. In total EQT has invested in 42 companies.
Pfaff-silberblau – established over 135 years ago – currently has 325 employees and a turnover of approximately 64 million euros (2005 fiscal year). The company is a leader in the fields of hoisting machinery and materials handling equipment as well as actuator tech¬nology. Pfaff-silberblau is an experienced partner for solving any problem related to moving (turning, lifting, lowering, pushing, shunting) loads of up to 1,000 tons in any direction. The company has factories in Friedberg and Heilbronn (Germany), and is represented by sub¬sidiaries in Switzerland as well as Austria, United Kingdom, the Benelux countries, Poland and Hungary. Beyond that, more than 40 affiliated representative offices are active for Pfaff-silberblau around the world.
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