Ipsen Group (Germany) - Nov 2007

unquote
01 November 2007

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Quadriga Capital and the management have wholly acquired Ipsen Group from Luxembourg-based Elster Group for an undisclosed amount. The auction was run by Leonardo & Co, represented by Siegfried L Drueker and Tobias Rieg.

The investor was attracted by the management and the company’s position as a global player, as well as a strong diversification of customers through many different industries. The investment will enable the company to further strengthen its market position in various segments and to expand the product portfolio. The company is also set to invest in the growing markets of eastern Europe and Asia. The investor plans to support the company with growth capital and its network in eastern Europe, especially Russia, as well as Asia. The company will focus on innovative product ranges, operational excellence, and add-on acquisitions.

Debt

WestLB AG has provided the debt and was represented by Jürgen Breuer, Eckhard Hoffmann, Götz Meyer and Philipp Schäfers.

Company

Ipsen Group is a provider of automated heat treatment facilities, which improve the structural conditions and load-bearing capacity of metals – in particular steel and titanium. The company sells mainly to medical technology, wind energy generation, aviation and food industry sectors. Customers include companies from the automotive, aviation and aerospace sectors, as well as tooling and mechanical engineering, medical technology and commercial heat treating plants.

Ipsen International has subsidiaries in Germany, the Netherlands, China, India and the US and employs 900 people worldwide. In 2007, Ipsen reported a turnover of around €170m.

People

Dr Andreas Fendel, Philipp Jacobi and Jörg Mugrauer handled the transaction for Quadriga Capital.

Advisers

Debt - Linklaters, Eva Reudelhuber, Judit Körmöczi (Legal)Equity - Ernst & Young - Transaction Advisory Services , Barbara Müller, Klaus Sulzbach, Michael Kunz, Nils Collischonn, Torsten Schmidt (Corporate Finance)Equity - Skadden Arps Slate Meagher & Flom, Matthias Horbach, Matthias Jaletzke, Stefan Feig, Veit Denzer (Legal)

Sourced from: Deutsche unquote" 97 (Apr 2008)