GERMANY - Springwater Capital exits M+W Zander Group

Springwater Capital has fully exited its 72.89% stake in Stuttgart-based technology group M+W Zander to AIM-listed hedge funds group Absolute Capital Management Holdings Ltd (ACM). The transaction had been carried out in two phases. In February 2007, ACM acquired approximately 35.7% of the share capital, with the remaining stake being sold by Springwater over the last week. At the end of 2005, Springwater Capital had acquired its stake in M+W Zander group form the parent company Jenoptik AG.