Cross, Pinova acquire Rademacher from Nord Holding

The deal marks the third private equity owner for the company and Nord Holding's second divestment in six weeks: in August, Nord Holding sold its stake in optical storage media manufacturer CDA Holding in a trade sale.

The Rademacher deal is Pinova's second investment in a week, having recently invested in German software-as-a-service company BrandMaker.

Previous funding
Nord Holding acquired Rademacher from Arcadia in February 2007. The management team took a minority stake as part of the deal, which was supported by an IKB Deutsche Industriebank senior debt package.

Arcadia had bought the company in 2003.

Company
Founded in 1967 by Wilhelm Rademacher, the company produces radio-based home automation systems for shutters, blinds, awnings and lighting, which can all be controlled via a smartphone or tablet.

Headquartered in Rhede and with a further production site in Dresden, Rademacher has approximately 160 employees and generates revenues of €30m.

People
Michael Petersen is managing partner of Cross Equity Partners. Rainer Effinger is managing director of Nord Holding. Markus Roth is CEO of Rademacher.

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• Topics
• DACH
• Exits
• Buyouts
• Technology
• Germany
• Nord Holding
• Pinova Capital
• Cross Equity Partners AG
• Secondary buyout