MS Industrie AG

M&A Activity • Apr 15, 2008

News Details

Corporate | 15 April 2008 13:55

GCI Management AG: GCI Management takes over Maschinenfabrik Spaichingen

GCI Management AG / Acquisition

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The issuer / publisher is solely responsible for the content of this announcement.

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GCI Automotive Holding GmbH, where the GCI Management Group, Munich (ISIN
DE0005855183) holds 60% of the shares while ACP Capital Limited, St.
Helier, Jersey (LSE AIM: APL) holds the remaining 40% of the share capital,
takes over 94% of the shares of Maschinenfabrik Spaichingen GmbH,
Spaichingen. The remaining 6% of the shares stay with the current
shareholder family and will be passed on to the management of the company
through an option scheme at a later date. The Maschinenfabrik Spaichingen
Group is a manufacturer of high quality components and devices for the
automotive industry, in particular for commercial vehicles, as well as for
individual ultrasonic devices, hot air stations, laser welding plants and
laser cutting installations for the general automotive industry.

Since its foundation in 1965, Maschinenfabrik Spaichingen produced circular
machines with large diameter for the parent company Mayer & Cie. as well as
automatic stocking knitters until the mid-eighties. During a restructuring
at the beginning of the eighties, the company was realigned and the
production of multilayer ceramic PC-boards for IBM Germany started and was
continued until the shutdown of all IBM plants in Germany.

In the following years Maschinenfabrik Spaichingen focused on its
traditional core businesses cutting and assembly, in this case particularly
on rocker arms for commercial vehicle engines, and, in addition, started
the new division special plastic welding machines. In only 12 years MS
became one of the leading companies in Europe in this area. Today MS
supplies virtually all automotive manufacturers in Europe, the US and China
– for a better part through its system vendors. 80 to 100 of these special
welding machines are shipped to customers worldwide each year.

In the product division rocker arms and gearbox housings for commercial
vehicles Maschinenfabrik Spaichingen is one of the five top-selling
suppliers for Daimler at the locations Gaggenau, Rastatt and Mannheim.
Beyond this, the company supplies the international locations of Daimler in
Brazil and Detroit-Diesel in the US. Furthermore MAN, ZF and MTU are among
the most important customers. For MAN, the company is one of the main
suppliers for all its commercial vehicle engines. In line with the
international production strategy of Maschinenfabrik Spaichingen, a new
production plant was founded in Fowlerville, Michigan, US, in 2007.

In the fiscal year 2007 the company employed around 400 people and realised
a total turnover of about EUR 67.5 Mio. In the following 3 years a
significant increase of sales, based on already existing contracts, is
expected.

Maschinenfabrik Spaichingen GmbH is the core investment of the new GCI
Automotive Holding which is, alongside GCI with 60% of the shares, a 40%
shareholding interest of the strategic partner ACP Capital Ltd. (APL.LN or
www.acpcapital.com). Including the recent acquisitions of the Dekorsy Group
and Wilisch & Sohn, pooled in the 'DEWI Components' Group, which could also
be incorporated in the GCI Automotive Holding GmbH at a later point in
time, the GCI Automotive Holding GmbH would have an aggregated sales volume
of more than EUR 130 Mio. Under the umbrella of GCI Automotive Holding GmbH
further acquisitions in the automotive industry are planned in the future.
The investment focus is on medium-sized automotive suppliers in the
high-quality segment in niche markets, in particular suppliers of plastic
parts, metal parts and special machines.

With this transaction, the turnover of GCI Management Group increases to
over EUR 230 Mio. on an annualised basis.

Background:

GCI Management AG, Munich, is a stock-listed management and investment
company with the three business divisions management consultancy, private
equity and financial services. In line with its growth strategy, GCI
Management acquires majority holdings with a high potential for value
enhancement and focuses on the areas of industry, financial services and
real estate.

Further Information:

GCI Management AG
Mrs. Alexandra Istrati
Brienner Str. 7
D-80333 Muenchen
Germany

Tel.: +49 (0)89/20500500
Fax: +49 (0)89/20500555
Mail: investor@gci-management.com
www.gci-management.com

15.04.2008 Financial News transmitted by DGAP

Language: English
Issuer: GCI Management AG
Brienner Straße 7
80333 München
Deutschland
Phone: +49 (0) 89 20 500 500
Fax: +49 (0) 89 20 500 555
E-mail: gci@gci-management.com
Internet: www.gci-management.com
ISIN: DE0005855183
WKN: 585518

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