Halder acquires Prae-Turbo in MBO

The vendor, Dr Jung Technologiegruppe, is the holding company of Prae-Turbo's founding family and co-founder Reiner Wahlers.

The company plans to increase capacity at its Schwanewede headquarters, while new machining centres will open throughout 2015. Prae-Turbo also intends to expand internationally.

The investment in Prae-Turbo marks the ninth investment from Halder's current fund, Halder-Gimv Germany II. The vehicle closed €50m above target on its hard-cap of €325m in February 2008.

Halder already owns a competitor in the precision components space. It acquired France-based CCN in 2011, which, according to Halder, will act as the model for Prae-Turbo's international expansion. Both companies will continue to operate as separate entities, but will work together in the US and Asia as part of both companies' growth in the regions. Halder has not ruled out further cooperation between the two precision tool-makers.

Debt financing
Idinvest Partners provided a unitranche debt package to finance the deal.

Company
Founded in 2003, Prae-Turbo manufactures compressor wheels for automotive turbochargers. Its clients are turbo system providers in Europe, the US, Canada and Mexico. Prae-Turbo generated turnover of €53.9m in 2014, up from €45.9m the previous year.

The company has 220 employees and manufactured 5 million precision components in 2014.

People
Oliver Romano is managing director at Prae-Turbo. The Halder team working on the deal comprised founding partner Paul de Ridder, partner Thomas Foddeler and investment manager Phillipp Scheier.

Advisers
Equity – Deloitte Touche, Marcus Roth, Simone Rupp, Christof Dreibholz, Astori Nieper, Maximilian Petzold, Caroline Schleese, Stefan Brauchle, Marcel Merkle (Tax, financial due diligence); White & Case, Andreas Stilcken, Stefan Koch, Carola Glasauer, Ingrid Knollmeyer, Katharina Thumeyer (Legal); Berylls, Jan Dannenberg (Commercial due diligence); Mayer Brown, Markus Strelow, Alexa Metzger, Marc Bäumer (Corporate finance).
Vendor - Angermann M&A International, Florian von Alten (Corporate finance).

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• Topics
• DACH
• Buyouts
• Industrials
• Germany
• Halder Beteiligungsberatung GmbH