GERMANY - DZ Equity acquires melvo GmbH in a management buyout

DZ Equity Partner GmbH has acquired, together with the management, a 49% stake in footwear care products company melvo GmbH from HANNOVER Finanz for an undisclosed sum. Melvo GmbH was founded in 1998 as a subsidiary of shoe manufacturer Salamander Group to incorporate Salamander’s shoe care products activities. In 2003, melvo became independent with the help of HANNOVER Finanz Group. The company's main brands include Salamander, and Woly and Coxy. Melvo’s workforce is 108, sales in 2007 amounted to EUR 37.2m.