Issuer: FairCap GmbH
/ Key word(s): Miscellaneous
Munich, February 7, 2024 – FairCap has signed an agreement to sell EXPROTEC to Tiefenbach Control Systems, which is backed by funds advised by Family Trust. The closing of the transaction is expected on February 23, 2024.
EXPROTEC, which is located in Tychy (Poland), specializes in the development, manufacturing and sale of explosion-proof electronic applications for hazardous areas. Following the carve-out from Bartec Group in 2021, FairCap initiated a comprehensive transformation program together with the management team aiming at further end-market diversification and business development. To establish a functioning stand-alone organization, a rebranding and set-up of a stand-alone IT infrastructure was successfully implemented. The chemistry segment was actively developed accompanied by investments in sales, R&D and new product development. To improve the sustainability profile, the management team developed an “EXPROTEC 2.0 strategy” together with the employees, aiming at entering new end-markets in the future (e.g., hydrogen technology). As a result of the implemented transformation measures, EXPROTEC achieved substantial growth in sales and profitability under the FairCap ownership.
Tiefenbach Control Systems (“TCS”) is a leading developer and manufacturer of resilient electrohydraulic systems, sensor technology as well as control software for mechanical and plant engineering. In 2022, TCS was acquired by funds advised by Family Trust (“FTI”). TCS employs a total of approx. 70 people at its headquarters in Bochum and maintains further offices in Tianjin (China), Novosibirsk (Russia) and Morgantown (USA). Following the closing, EXPROTEC will benefit from TCS’s global sales presence, providing the business with additional growth channels.
Jasper Delekat, Managing Partner of FairCap, states: “With our entrepreneurial approach, we were able to transform EXPROTEC successfully in a short period of time. We are now glad to hand the company over to the best new owner, who will be able to open up new growth opportunities for EXPROTEC. We would like to thank the whole team of EXPROTEC for their dedication and particularly the board members Jacek Kalinowski and Wojciech Pszczółka for relentlessly driving growth and innovation.”
Friedrich Wallwitz, Director of FTI, adds: “EXPROTEC’s complementary and high quality product portfolio make the company a perfect fit for TCS. TCS’s managing directors Axel Fuisting and Christian Möcklinghoff have known the EXPROTEC team for many years, building a strong basis for a successful partnership. We look forward to working together with the EXPROTEC team to further grow both businesses in the long-term.”
FairCap GmbH is an entrepreneurial investment company with offices in Munich, London and Milan which acquires small and medium-sized companies in special situations (e.g. carve-out, turnaround, succession) and transforms them into sustainable, healthy organizations. FairCap is a holding company that is not tied to a specific investment period (“evergreen structure”). Unlike traditional financial investors, FairCap’s investment approach is not aimed at generating short-term financial returns, but at building sustainable businesses that have a positive impact on the environment and society.
Advisors to FairCap: Deloitte (M&A) led by Mirosław Pazur and Dorian Guenther, Heuking Kühn Lüer Wojtek (Legal) led by Benedikt Raisch.
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