delmod international Bekleidungsindustrie GmbH (Germany) - Dec 2007

unquote
01 December 2007

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CFC Industriebeteiligungen GmbH & Co. KGaA has acquired 84.8% of delmod international Bekleidungsindustrie GmbH & Co. Hanse-Kleidung KG for an undisclosed purchase price. The previous shareholders of the company have decided to retire from their business. The remaining shares are held by managing director Michael Starke. The financial investor sourced the deal through an auction. The company was valued on the basis of discount and cashflow.

The investor won the deal also due to its expertise in restructuring companies with strong brand names, such as with portfolio companies Format and Berndes.

By optimising the sourcing processes and by implementing changes in the distribution strategy, CFC is striving to lead delmod back onto a profitable growth track in the near future. In this process the well-established brand name and the high-quality products are considered as being the company’s strongest factors.

Company

Delmod international Bekleidungsindustrie GmbH & Co. Hanse-Kleidung KG. Delmod is headquartered in Delmenhorst, near Bremen. Apart from actual production, the company covers the entire value chain, from design, quality management, logistics, to marketing and distribution. Classic ladies’ wear brands ‘delmod’ and ‘Kim Kara’ are being held by delmod.

In the previous financial year ending 31 March 2007, delmod realised an annual turnover of about €56.9m, while employing approximately 200 staff.

People

Frank Nellißen handled the transaction for CFC.

Advisers

Equity - Aulinger, Thomas Huesmann (Legal)Equity - Dr Schlüter & Partner GbR, (Tax)

Sourced from: Deutsche unquote" 95 (Jan 2008)