SIP's PTF Holding acquires Heinz Kehl & Sohn

The acquisition was supported by equity provided by SIP and fresh debt. The company will continue to be run as an independent entity placed under the umbrella of the PTF Holding group. The deal was initiated by the current owner, Reinhard Kehl, who was looking for a successor, according to the GP. PTF acquired 100% of the company. PTF group's leverage ratio is below average, the GP told unquote".

Following the acquisition, the group's sales will increase by approximately €5m to an estimated €16m in 2012. The GP plans further acquisitions and organic growth for the group, with a particular interest in companies with a customer focus in medical technology and implant production, the optical and laser industries, and aviation.

SIP acquired PTF Pfüller in 2011. This was the firm's first acquisition.

Company
Heinz Kehl & Sohn manufactures turned and milled parts for the hydraulics and pneumatics industries. The company specialises in the individual and serial production of components with low tolerances and high surface quality.

The business is more than 50 years old and is based in Hattersheim, near Frankfurt am Main, with further production facilities in Stollberg and Suzhou, China. The company employs 160 people overall. Its 2011 turnover was approximately €5m.

People
Philipp Amereller is a managing partner at Silver. Reinhard Kehl, the owner and son of the company's founder, will continue to be managing director of the company for an interim period of about a year. He may enter the advisory board thereafter. Oliver F Zintl is managing director of the PTF group.

Advisers
Equity – SJ Berwin (Legal, tax); Ernst & Young (Financial due diligence).

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• Topics
• DACH
• Industrials
• Expansion
• Acquisition finance
• Germany
• Silver Investment Partners
• SJ Berwin
• Ernst & Young