Pinova buys majority stake in Ecoroll

CEO Karsten Röttger is to remain in his management position and will increase his minority stake in the business through the buyout.

The GP is currently deploying equity via its second fund. Pinova Fund II held a final close in January 2017 on €180m, surpassing its target of €150m. The fund makes equity investments of €5-25m and acquires technology-backed DACH-based SMEs with revenues of €10-75m.

Pinova said in a statement that it intends to support the company's growth, in particular by taking advantage of the market demand for lighter and more durable metal components.

Previous funding
Hannover Finanz acquired a 55% stake in Ecoroll in June 2002, according to Unquote Data, investing via Hannover Finanz VII. The GP sold its stake to a family holding company in June 2012. The company reported revenues of €12m at the time.

Company
Founded in 1995 and headquartered in Celle, Ecoroll produces tools and machines used to improve the surface of metal components used in industries including automotive, aerospace, energy and medical technology. Its products include self-engineered tools and machines for roller burnishing and deep rolling, as well as processing cylinders.

According to its latest accounts, the company reported EBITDA of €2.43m in 2019, compared with €2.5m in 2018. It generated gross profit of €10.6m in 2019, compared with €10.1m in 2018.

People
Pinova Capital – Herbert Seggewiß (managing partner).
Ecoroll – Karsten Röttger (CEO).

Advisers
Equity – Crowe BPG (financial due diligence, tax).
Vendor – Livingstone Partners (corporate finance).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Pinova Capital