Zurmont Madison divests Röder

The new owner has wholly acquired Röder. The incumbent management team will continue to lead the business under the RAG Foundation, which was set up in 2007 to provide long term financing to the "inherited liabilities of the coal mining industry in the Ruhr and Saarland".

In 2011, unquote" reported that Zurmont Madison was investigating a potential sale of the tent specialist.

The deal marks the second exit in a week for the Swiss private equity firm, having sold its 70% stake in Zurich-headquartered translations services provider CLS Communications to Nasdaq-listed Lionbridge Technologies for $77m.

Previous financing
Zurmont Madison acquired a 75% stake in tent specialist Röder from the company's management in September 2007. At the time, Röder generated revenues of €47m. WGZ Bank provided a debt facility for the deal.

Company
Headquartered in Büdingen, Röder manufactures and distributes tents and marquees for industry, sport and private events, such as the Formula One Paddock Club. Founded in 1959, Röder currently has 500 employees and generates sales of €80m.

It has additional operations in China, Russia, Turkey, Italy, France, the UK, Austria, Hungary, Romania and Switzerland.

People
Kurt Hitz is partner at Zurmont Madison. Rüdiger Blasius is chairman of the Röder board.

Advisers
Vendor – Canaccord Genuity, Philipp von Grawert (Corporate finance).

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• Topics
• DACH
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• Zurmont Madison Management
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