UNQUOTE

Odewald's Langer & Laumann hits market in Lincoln-led auction

  • Min Ho and Johannes Koch
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Sponsor Odewald KMU has launched a process to exit its portfolio company Langer & Laumann and tasked Lincoln International with managing the process for the German smart door specialist, two sources familiar with the situation said.

The business is being marketed off circa EUR 6m of EBITDA in the last 12 months, the sources said. The company generates annual margins of around 40% on circa EUR 12m in sales, the first source said.

The auction is at an early stage with the first round approaching soon, the first source added.

Odewald KMU acquired a majority stake in the provider of smart doors for machines and lifts over five years ago. Founders Matthias Langer and Michael Laumann remained invested in the company, according to the sponsor at the time.

The goal of the partnership was to increase the company's market penetration and expand into new markets beyond Europe, according to the release. Langer & Laumann subsequently sold its plastics door and window profiles division, Vinylit, to PVC-profiles specialist Veak in 2021.

Odewald declined to comment. Lincoln and Langer & Laumann did not respond to a request for comment.

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