Adcuram acquires majority stake in Steinel

Ingo Steinel, Steinel's managing director, will retain a significant stake in the company and will continue in his management role.

Adcuram said in a statement that it aims to work with management to expand the company internationally. The GP sees growth opportunities in the field of smart buildings, using technology to make the use of office space, hotel rooms and care facilities as efficient as possible.

Adcuram generally invests in companies in the industrials sector with a turnover of €30-150m and an enterprise value of up to €150m. The GP focuses on Mittelstand companies and corporate spinouts.

The GP's recent investments include the acquisition of Garbe Gruppe, a German construction supplies company.

Company
Steinel was founded in 1959 by Heinrich Steinel and is headquartered in Herzebrock-Clarholz, North Rhine-Westphalia. The group has factories in Germany, Switzerland, Romania and Moldova, with around 1,400 employees in total.

Steinel manufactures sensor-controlled lighting products, as well as heat tools and hot-melt glue tools, for use in private and municipal construction projects. Its portfolio comprises more than 2,500 products.

The company reported profit of more than €1.95m in 2018, with a turnover of €150.9m, according to Northdata.

People
Steinel – Ingo Steinel (managing director).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Adcuram Beteiligungs AG