Radial to acquire Knorr-Bremse' Powertech business

The restructuring cost to be paid by Radial for the carve-out is almost €80m, including allowances for capital resources, deconsolidation effects and transaction-related expenses.

Radial is a special situations investor that takes majority stakes in companies with revenues of €10-250m.

Knorr-Bremse manufactures braking systems and other rail and commercial vehicle subsystems. The company made the divestiture due to an ongoing review of its portfolio for performance and strategic review, according to a statement.

In 2018, the business generated revenues of €90m and an EBIT loss of €19m.

Previous funding
Power Converter Solutions and TransTechnik were acquired by Knorr Bremse in 2014 and were brought together under the name Powertech in 2016.

Company
The business comprises three companies in Germany, a company in the US and its commercial activities in Australia, Spain and China. It offers electric power supply systems for rail vehicles and industrial appliances.

With its main offices in Berlin, the company employs more than 500 people. The two companies that make up the division, Power Converter Solutions and TransTechnik, were founded in 1843 and 1968 respectively. Powertech was formally founded in 2014 upon the merger of the two companies.

People
Radial Capital Partners – Ulrich Radlmayr, Andreas Mayr (managing partners).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany