Brussels, 09 February 2018 – svt Holding GmbH (“svt”), a portfolio company of Ergon Capital Partners III S.A. (“Ergon”), announced today that it signed an agreement to combine forces with Rolf Kuhn through a merger with Rolf Kuhn GmbH, its 90% subsidiary Rolf Kuhn Brandschutz GmbH (Austria), Flamro Brandschutz-Systeme GmbH, Prüf- und Technikzentrum Brandschutz GmbH and Kuhn Service GmbH (together “Rolf Kuhn”).
Founded in 1976 and headquartered in Erndtebrück, Rolf Kuhn is a leading German manufacturer of fire protection products. Its offering includes products for industrial applications, primarily for door manufacturers, as well as full solutions for construction and fire protection accessories for the glazing industry. Rolf Kuhn also includes Flamro, a leading manufacturer of bulkhead sealing systems as well as Brandchemie, which were acquired in 2012 and 2016, respectively.
Through the combination, svt and Rolf Kuhn will form a leading manufacturer of fire protection products in Europe with a comprehensive product portfolio backed by an extensive and complementary portfolio of more than 400 national and international certifications. The combined group will employ a workforce of more than 600 employees and generate a turnover of approximately €150 million in more than 60 countries.
Rolf Kuhn’s Managing Director, Jürgen Wied, looks back at 23 years of experience within Rolf Kuhn and will remain in charge of the operational management of the business. Harald Kuhn, shareholder of Rolf Kuhn, will lever his valuable experience as an advisor to the management team. Steffen Gerdau will lead the combined group as Chief Executive Officer.
Commenting on the transaction, Harald Kuhn, said: “After long and intensive considerations of a potential new home for Rolf Kuhn, I am convinced that I have found the right partner in svt. svt and Rolf Kuhn complement each other excellently.” Steffen Gerdau added: “I am looking forward to working together with Rolf Kuhn’s employees. There is a strong strategic fit between svt and Rolf Kuhn and I am convinced that the new group will be even more successful serving its customers in the national and international markets.”
Wolfgang de Limburg, Managing Partner of Ergon, commented: “We are very pleased to accompany svt and Rolf Kuhn in this important strategic step. We are convinced of the industrial logic of this combination and would like to thank both management teams and Mr. Kuhn for their trust in Ergon as new shareholder”. Nils Lüssem, Partner at Ergon Capital Advisors in Germany added: “The combined group forms one of the leading players in Europe in the attractive niche market for passive fire protection products and solutions. We are pleased to be able to support the group in the future.”
The merger is subject to customary antitrust approvals.
About Rolf Kuhn
Rolf Kuhn, founded in 1976 and headquartered in Erndtebrück, North-Rhine Westphalia, is a leading German manufacturer of fire protection products. Its offering includes products for industrial applications, primarily for door manufacturers, as well as full solutions for construction and fire protection accessories for the glazing industry. With ~160 employees, the Group distributes its products in Germany as well as globally in ~60 countries across Europe, Asia, Africa and Latin America.
Founded in 1969 and headquartered in Seevetal near Hamburg, svt is a leading provider of preventive passive fire protection products and installation management services. Furthermore, svt offers one-stop-shop services in restoration management specialising in fire, water and natural hazard damage restoration as well as pollutant removal. With
~450 employees, svt serves its customers through its network of 32 branches across Germany, and subsidiaries in Singapore, Dubai and Poland.
For more information on svt, please visit www.international.svt.de.
About Ergon Capital Partners III
Ergon Capital Partners III is a mid-market private equity investment company with
~€500 million under management backed by family-controlled Groupe Bruxelles Lambert, through its fully-owned subsidiary Sienna Capital, as cornerstone investor, and selected European institutional investors. Ergon is a disciplined and discreet value investor, which provides “patient and friendly capital” to entrepreneurs and managers, who need capital and industrial solutions to accelerate the development of their companies. Ergon makes equity investments from €25 million up to €75 million in leading companies with a sustainable competitive position in attractive niche markets located in the Benelux, France, Germany, Italy, Iberia and Switzerland. Ergon is advised by Ergon Capital Advisors which has offices in Brussels, Paris, Munich, Milan and Madrid.
Since its inception in 2005, Ergon, together with its two preceding investment programs raised approximately €1 billion and invested in 18 companies (of which 5 in the Benelux, 7 in Italy, 2 in France, 1 in Spain and 3 in Germany) and has completed 31 add-on acquisitions for a total aggregate transaction value in excess of €3 billion. Ergon’s current portfolio consist of 8 companies in various sectors encompassing luxury, specialty retail, industrial manufacturing and services, healthcare, media, leisure and gastronomy.
For more information on Ergon, please visit www.ergoncapital.com.