Avedon-backed Altendorf buys Hebrock and EBM

Both businesses were owned by the Hebrock family, and some second generation members of the family have taken a minority stake in the deal. 

The GP acquired Minden-based saw manufacturer Altendorf for approximately €50m in October 2017, drawing capital from Avedon Growth Capital III. The bolt-on of Hebrock was funded by equity from the same vehicle. 

At the time of the original acquisition, Avedon announced its intention to acquire competitors in Germany, Northern Italy and Austria in a buy-and-build strategy.

Hebrock employs 55 staff, increasing the employee base of the combined Altendorf group to a total of more than 300. The group generated revenues of €40m for 2017.

Company
Hebrock was founded in 1987 and is headquartered in Bünde and Hüllhorst, Germany. It specialises in the manufacturing of edgebanding machines for the craft processing of wood panels. It employs 55 people.

People
Avedon Capital Partners – Benjamin von Schulz (investment manager).
Hebrock – Horst Hebrock (founder).

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• Topics
• Expansion
• DACH
• Benelux
• Build-up
• Germany