Halder makes first investment from new fund

Halder VI held a final close in January, but no further details were released by the firm. The vehicle was registered in September in Frankfurt, according to publicly available documents.

The GP sold Wback to a trade buyer earlier this month, marking the fifth exit for Halder Germany II since the fund secured a two-year extension at the start of January 2018. Rede Partners ran a secondaries process in which existing LPs were given the opportunity to sell to selected buyers.

Halder VI will be overseen by the next generation of partners at the firm, after Paul de Ridder and Michael Wahl stepped back into senior adviser roles last year.

New partner Philipp Scheier led the investment in Conen Group, providing a succession solution for the founding family, which established the business in 1965.

Halder said that Conen’s growth was driven by increasing digitalisation of education globally, which has led to double-digit growth rates for sales of interactive displays. The company plans closer co-operation with display manufacturers in the US and the Middle East in the future.

Debt
LFPE, HF Debt and Capital Four provided a financing package to support the transaction.

Company
Conen Group was founded in 1965 and is headquartered in Morbach. The company manufactures and installs equipment for schools such as adjustable display mounts and interactive screens. It employs 225 people and generated sales of €37m in 2018.

People
Halder – Philipp Scheier (partner); Silvan Fehst (investment analyst).

Advisers
Equity – Warth & Klein, Thomas Wagner, Jens Knipping (tax); Warth & Klein, Wilhelm Mickerts, Kristina Ganzen, Willi Schwarzkopf, Mark Petersmeier (financial due diligence); Hogan Lovells (legal).

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