CE Capital acquires Walter Hundhausen

The transaction is expected to complete on 1 October 2020. The company's management will remain in place following the sale, according to a statement.

Walter Hundhausen continued its business operations following the filing and insolvency proceedings for the company that began in August 2020. The company was formerly a subsidiary of GMH Guss, which also filed for insolvency in May 2020 and at the time had a total of 1,800 employees across its subsidiaries. The companies mentioned the impact of the coronavirus pandemic on liquidity in statements issued at the time.

The sale was made via a structured auction process managed by insolvency administrator Dirk Andres of AndresPartner.

CE Capital plans to support Walter Hundhausen's growth via investments in technology and facilities, as well as in the optimisation of its manufacturing processes. The GP aims to bring the business back to operating profitably, according to a statement.

Hamburg-based CE Capital invests in situations ranging from carve-outs to turnarounds. It also provides capital increase investments. The GP invests in companies that generated revenues of €50m-1bn prior to the coronavirus crisis.

Company
Walter Hundhausen was founded in 1914 and is based in Schwerte. The company produces iron castings using nodular graphite iron, serving clients from industries including automotive, rail travel, mechanical engineering and energy.

The business reported 2018 revenues of €124.4m and EBITDA of €5.2m, compared with turnover of €112.4m and EBITDA of €180,000 in 2017, according to publicly available financial statements. The company has 380 employees following the acquisition.

People
CE Capital Partners – Nicolas Neumann (managing director).

Advisers
Equity – Reimer Rechtsanwälte (legal); Knight Wendling (M&A).
Vendor – Starkpartners Consulting (M&A).

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