Quadriga exits LAPP Insulators

The GP stated that when it originally bought LAPP in 2011, the company was the result of a buy-and-build strategy backed by Andlinger & Company. Quadringa, together with the management team, worked on turning the different companies into an integrated group, with the aim to improve operations, sales and financial controlling.

Quadriga added that the sale to Pfisterer made strategic sense since both companies complement each other in terms of product ranges and geographical distribution. The sale process took around six months to complete.

There will be no change to LAPP's management team. Deutsche Bank and Landesbank Baden-Württemberg arranged debt funding for the transaction.

Company
Founded in 1959 and based in Wunsiedel, LAPP Insulators is a supplier of high-voltage insulators. The company's products are made of porcelain, ceramic and composite products and are used in high-voltage and railway grids, switching systems and transformers. Its products are used in 70 countries. Its 1,200 employees work across three German location and additional production facilities in the US, Romania and Poland.

People
Roland Egerer is managing partner and Helmut Fortunato is investment manager at Quadriga. Michael Keinert is the CFO of Pfisterer.

Advisors:
Acquirer – Clifftop Colony, Oliver Drews (M&A); Heymann & Partners, Thomas Heymann (Legal); EY, Jürgen Haun (Financial due diligence); Jürgen Haun (Tax); Marsh, Nikola Pamler (Insurance due diligence).
Vendor – William Blair, Matt Gooch, Simon Bärtl (M&A); Latham & Watkins, Oliver Felsenstein, Leif Schrader, Laurent Müller (Legal); Roland Berger: Paul Jowett, Gernot Klein (Commercial due diligence); Deloitte, Egon Sachsalber, Tanya Fehr (Financial due diligence).

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• Topics
• DACH
• Exits
• Industrials
• Trade sale
• Germany