Callista Private Equity GmbH
Callista Private Equity GmbH & Co. KG expands portfolio and acquires 100% of the shares of an renowned producer of power tools +++ Transfer of the shares of KRESS-elektrik GmbH & Co. KG completed (news with additional features)
Munich, February 3rd, 2015 – Callista Private Equity GmbH & Co. KG (“Callista Private Equity”) announces the acquisition of all shares of KRESS-elektrik GmbH & Co. KG. The company was previously owned by an entrepreneurial family, which decided to re-focus more on its core business and therefore sold the unit in a structured process. The parties agreed not to disclose the purchase price. Restructuring measures are financed by a capital increase and additional loan commitments.
Bisingen based KRESS-elektrik GmbH & Co. KG is a family-owned enterprise with a tradition dating back 85 years. The medium-sized company currently some 90 highly skilled employees. Due to sustainably high innovativeness and a distinct focus on product quality, the company is a leading developer and producer of power tools for professional and semi-professional requirements. KRESS distributes it’s products via OEM distributors, tool distributors targeting an professional clientele as well as DIY chains. Despite significant restructuring attempts and efforts to raise distribution volumes, the company continues to struggle with insufficient utilization. For a sustainable rehabilitation a short-term financial stabilisation and a significant mid-term improvement of the utilization is required. In order to achieve this goal, Callista Private Equity will build on the measures already initiated by the vendors, while the selling side is committed to support the further restructuring by providing know-how and advise. Olaf Meier, Chief Executive Officer of Callista Private Equity comments on the transaction: “We are very excited about the new addition to our portfolio and the confidence expressed in the course of the transaction by the seller. The company is currently in a distressed situation. However, we do believe that the vendors have initiated important steps to towards a recovery of the company. We will accelerate these and will flank them with additional measures.” Marc Zube, Chief Operating Officer of Callista Private Equity, adds: “In the context of the restructuring, we target to align the distribution strategy on the development of new distribution partnerships and the promotion of OEM and B2B business. This shall result in a significant improvement of utilization levels within the coming twelve to eighteen months.” About Callista Private Equity Callista Private Equity GmbH & Co.KG (“Callista Private Equity”), headquartered in Munich, acquires distressed companies, non-core group assets and business units. The company’s success is based on the subsequent restructuring process. Callista Private Equity employs a team of experienced international experts to reorganize the operations of the acquired company and concentrate on restructuring resulting in sustainable profitability. Contact: End of Media Release +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=GGLLSHLFLW Document title: * Callista Private Equity expands portfolio and acquires 100% of the shares of an renowned producer of power tools Issuer: Callista Private Equity GmbH & Co. KG Key word(s): Finance 2015-02-03 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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