Emeram buys Drahtzug Stein

Emeram approached Drahtzug Stein proactively and claims to have been in touch with the management for a long time to negotiate a strategy for the company's international growth ambitions and succession solution. The sellers negotiated with a number of potential buyers. Emeram claims its previous experience with international expansions and its contacts with original equipment manufacturers helped it to win the deal.

Emeram hopes to expand the business into new countries and market segments, and to win a larger number of customer industries.

The equity for the transaction was provided by Emeram's €350m first vehicle, alongside the owner family and the management team. The company's owning family will retain a minority stake.

The present managing director and the CFO will continue leading the company's operations on an interim basis. In the long term, they will then move to the advisory board as Emeram implements a new management.

Debt was provided by a consortium of savings banks (Sparkassen), led by Kreissparkasse Biberach and Sparkasse Rhein-Nahe.

Company
Founded in 1941 and based in Altleiningen, Drahtzug Stein produces wire products in the areas of home appliances, agriculture, automotive and medical technology. It has sites in Germany, France, Italy, Poland and the US.

People
Drahtzug Stein – Wolfgang Stein (managing director).
Emeram Capital Partners – Korbinian Knoblach (founding partner).

Advisers
Equity – GLNS (legal); PwC (financial due diligence, tax); Estin & Co (commercial due diligence); GCA Altium (debt advisory); Ramboll Environ (environmental due diligence); Willis Towers Watson (insurance due diligence).
Seller – cf:M (M&A); Dentons (legal).

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• Topics
• Buyouts
• Industrials
• DACH
• Germany