Odewald invested via its second fund, Odewald KMU II, which closed on its hard-cap of €200m in 2015. The fund invests in so-called "first-generation companies", which have been founded within the last 10-30 years and generate sales in the region of €20-100m. The fund typically deploys €5-30m per transaction.

This is the third investment for the fund, following the acquisitions of Betten Duscher in 2016 and of Karl Schmidt group in early 2017.

The company's management, which previously held a majority stake, reinvested as part of the deal.

Company
Langer & Laumann specialises in installing and modernising door drives for elevators, and safety doors on or in industrial machinery.

Advisers
Equity – Kühn Lüer Wojtek (legal).

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