Nord Holding exits Goebel

Nord Holding wholly acquired Goebel in an MBO in March 2003 for €10m. The investor arranged equity and mezzanine financing and acquired a majority stake in the newco. The management retained a significant minority stake.

The 2003 acquisition was the first transaction that was refinanced via the Kreditanstalt für Wiederaufbau Private Equity programme. CH Reynolds Luchterhand introduced the transaction to Nord Holding.

Nord Holding's portfolio currently include 30 companies in the DACH region. Its investors consist of several German savings banks, public insurance companies and pension funds, as well as Landesbank.

Company
Founded in 2001, Goebel Schneid-und Wickelsysteme manufactures slitter rewinders for processing paper, film and foil. Goebel was originally founded in 1851, but filed for insolvency in 2000.

The remaining activities of Goebel were merged with Dutch press manufacturer Drent in January 2001. The firm exports in excess of 90% of its products internationally. China is the company's largest export market at the moment.

People
Robert Pauli is a partner at Nord Holding.

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