checkAd

    DGAP-News  1688  0 Kommentare Wittur Holding GmbH: Wittur and Sematic to merge in order to create a leading global supplier to the elevator industry


    DGAP-News: Wittur Holding GmbH / Key word(s): Mergers & Acquisitions
    Wittur Holding GmbH: Wittur and Sematic to merge in order to create a
    leading global supplier to the elevator industry

    11.08.2015 / 12:01

    ---------------------------------------------------------------------

    PRESS RELEASE

    Wittur and Sematic to merge in order to create a leading global supplier to
    the elevator industry

    Combined company will become one of the significant global manufacturers of
    components, modules and complete systems for the elevator industry

    Wiedenzhausen / Osio Sotto, 11 August 2015 - Wittur (ISIN: XS1188024548,
    XS11880254382014) and Sematic today announced that they have agreed to
    merge in order to create a leading global supplier in the elevators and
    elevator components manufacturing industry. Bain Capital, as the owner of
    Wittur, and The Carlyle Group and the Zappa family, as joint owners of
    Sematic, have signed an agreement on the transfer of a controlling interest
    in Sematic to Wittur. Carlyle and the Zappa family will retain a stake in
    the combined entity.

    The transaction is in the shared interests of both Wittur and Sematic,
    which both bring distinct market strengths to the combined organisation.
    The newly combined entity will represent one of the significant
    manufacturers of components, modules and complete systems for the global
    elevator industry, with a projected combined revenue of around EUR
    750million in the current fiscal year and approximately 4,500 employees.
    Together, Wittur and Sematic will be an even more reliable global partner
    to customers delivering superior products in a steadily growing market
    driven by trends such as the growth of the world population, ongoing
    urbanization and the aging of society.

    All sides have agreed to maintain confidentiality regarding the financial
    details of the transaction which still needs to obtain approval by the
    regulatory authorities.

    The combined company intends to further accelerate its growth by driving a
    global platform strategy, using cross-selling-opportunities, profiting from
    an enlarged global sales and manufacturing footprint as well as further
    broadening the product range thereby enhancing its position as supplier of
    choice to both private and larger international elevator manufacturers.
    Positive benefits from the new entity over the coming years are expected
    from synergies arising primarily from procurement and efficiency gains. In
    addition, the merged entity is intended to benefit from sharing best
    Seite 1 von 4


    EQS Group AG
    0 Follower
    Autor folgen

    Verfasst von EQS Group AG
    DGAP-News Wittur Holding GmbH: Wittur and Sematic to merge in order to create a leading global supplier to the elevator industry DGAP-News: Wittur Holding GmbH / Key word(s): Mergers & Acquisitions Wittur Holding GmbH: Wittur and Sematic to merge in order to create a leading global supplier to the elevator industry 11.08.2015 / 12:01 …