Wittur AG on the block again
Cerberus Partners and Goldman Sachs Capital Partners are looking for a buyer for German lift component supplier Wittur AG.
Goldman Sachs has been mandated to run the auction process.
In August 2008, Goldman Sachs had originally been instructed to sell the company but the Lehman collapse and ensuing market turmoil scuppered the sales process. Reports during that time indicated a price tag for the company of around €600m.
Cerberus, Goldman Sachs CP and CSFB Private Equity had acquired the company at the end of 2005 from founder Horst Wittur.
Founded in 1968 and based in Wiedenzhausen, Wittur develops, manufactures and markets elevator components. The company has manufacturing plants in nine countries, including Turkey, Brazil and China, and has offices in 21 locations from Argentina to Australia.
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