Ergon backs merger of SVT and Rolf Kuhn

The GP supported the merger with capital from Ergon Capital Partners III, a €775m buyout fund.

Rolf Kuhn's managing director, Jürgen Wied, will remain in charge of the operational management, and Harald Kuhn will stay on in an advisory capacity. Steffen Gerdau will become CEO of the new group.

The combined group will generate a turnover of €150m and employ 600 people in 60 countries.

Ergon acquired SVT in November 2017 in a secondary buyout from IK Investment Partners. The sale generated a 5x money multiple and a 95% IRR for IK's small-cap fund.

Company
SVT was founded in 1969 and is headquartered in Seevtal. The company sells and installs fire protection products. It employs 450 people in its 32 branches and generated EBITDA of €13m in 2017 from €114m in turnover.

Rolf Kuhn was founded in 1976 and is headquartered in Erndtebrück. Its primary product is fireproof doors. It employs 160 people in Germany and distributes its products globally. Rolf Kuhn also includes the brands Flamro – a manufacturer of bulkhead sealing systems – and Brandchemie, which were acquired in 2012 and 2016, respectively.

People
Ergon Capital Partners – Wolfgang de Limburg (managing partner).
SVT Holding – Steffen Gerdau (CEO).
Rolf Kuhn – Jürgen Wied (managing director).

Advisers
Equity – Alantra (corporate finance).

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• Topics
• Expansion
• DACH
• Support services
• Germany
• Build-up
• Alantra Private Equity