M&A Activity • Jul 29, 2013
M&A Activity
Open in ViewerOpens in native device viewer
News Details
Corporate | 29 July 2013 10:00
INDUS accelerates growth of two portfolio companies
INDUS Holding AG / Key word(s): Investment
29.07.2013 / 10:00
INDUS accelerates growth of two portfolio companies
– HORN acquires Lubrication Solutions, USA
– BUDDE takes over control software specialist PROVIS
Bergisch Gladbach, July 29, 2013 – Two investments of INDUS Holding AG, HORN Group and BUDDE Group, have made acquisitions as part of the ‘Compass 2020’ development strategy.
BUDDE, an INDUS portfolio company, currently acquired PROVIS Steuerungstechnik, Delmenhorst, which employs approx. 30 people and develops electric control and automation technology. The range of services provided by PROVIS includes electric planning, the complete design and fabrication of switchgear cabinets and the programming of control software for conveyor systems. The company primarily operates in Europe but also in Mexico and Malaysia. In 2012, PROVIS generated sales revenues of approx. EUR 6 million.
The BUDDE Group has been a majority investment of INDUS Holding AG since January 2013. The company delivers mechanical and fully automatic conveyor systems. 80% of its customers come from the courier, express and parcel services sector.
With effect from July 1, 2013, TECALEMIT Inc., the US subsidiary of HORN took over the operations of Lubrication Solutions Inc. (LSI), Houston in the context of an asset deal. In return, the former owner of LSI, Tony Llopiz, received 50% of the shares in TECALEMIT Inc., while at the same time becoming the company’s Managing Director. LSI employs 15 people and generates annual sales of approx. USD 5 million. The company engineers and builds dispensing and metering systems for Diesel and AdBlue .
The HORN Group develops and manufactures pumps, tank and fluid control systems, tyre inflation equipment and oil management systems as well as technical components for car and truck repair shops. The HORN Group includes Pneumatic Components Limited (PCL), UK, the world market leader in analogue and digital tyre inflation equipment and related areas.
‘LSI and PROVIS ideally complement our subsidiaries HORN and BUDDE
– they are mid-sized, innovative and international. We thus enable these companies to take the next development steps towards internationalisation and growth,’ says CEO Jürgen Abromeit.
Contact:
Regina Wolter
Corporate Communications & Investor Relations
Phone +49 2204 4000 70
E-Mail [email protected]
End of Corporate News
29.07.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| 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: | [email protected] |
| Internet: | www.indus.de |
| ISIN: | DE0006200108 |
| WKN: | 620010 |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
| - - - |
| 221444 29.07.2013 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.