M & A

Aurelius: Christmas Shopping

Up until the end of the year, Aurelius AG, a holding company m:accesss-listed on the Munich Stock Exchange, has been out buying up companies that include the cloud business of the Colt Group S.A., the trading sector of the Swiss Commerce group Valora Holding AG and the Reuss-Seifert & Hammerl Group.

The purchase of the Colt Managed Cloud business enables Aurelius to extend the activity of its Getronics subsidiary. According to sources within the group, total turnover for CMC this current year is forecast at 77 million Euros. Valora Trade completes the Aurelius portfolio in consumer goods and paves the way towards a clientele of more than 120 million consumers in seven European countries. Industrial production is extended by the takeover of producer of building materials for cement mixing Reuss-Seifert & Hammerl. The company, with its 300 employees and six manufacturing plants in Germany and Poland posted a turnover for 2014 of some 60 million Euros.

Nordex: synergies boost turnover

TecDax –listed Nordex SE has purchased the Spanish windpower specialist Acciona Windpower for approximately 785 million Euros. 366 million Euros will be paid in cash and 419 million in the form of 16.1 million new shares to the parent company Acciona S.A. The Spaniards will therefore retain 30 percent of ownership of Nordex, while firstly the holding of former majority shareholder Skion/Momentum and then secondly that owned by Supervisory Board member Jan Klatten will be cut back to 6 percent3. The deal also requires Acciona to increase its holding of Nordex over the coming three years to more than 30 percent by direct and indirect share purchasing. The Monopolies Commission still has to give its approval.

Nordex’s aim, beginning early 2016, is to dovetail activities with those of Acciona to jointly provide a single unified programme worldwide. Its intention is to make use of synergies to boost its turnover from 4.2 to 4.5 billion Euros over the next three years. The 2015 forecast turnover for the two companies, still separately run, totals 3.4 billion Euros.

MBB: working together in electromobility

MBB SE, a Prime Standard-listed SME, has acquired a 75% stake in the Aumann Gruppe. Aumann is specialised in the production of plant and machinery, supplying the automobile industry with wire-enamelling and -winding technology, and automation solutions for producing electric motors. MBB has announced that the majority holding will foster the development of automation in electricity-powered mobility. Aumann will keep its name, its management and its factories in Germany, China and the USA. The price of the transaction has not been made public.

TLG: More capital to buy more property

SDax-listed TLG Immobilien AG, has increased its capital by some 102 million Euros by issuing 6.13 million new shares. The shares were taken up by institutional investors for an issuance price of 16.60 Euros per share within a fast-track placing procedure. After the transaction costs have been met, the company will still have about 101 million Euros which, according to TLG is to be used for buying and selling more property and thereby boosting growth. The initiative raised share capital by 10% from 61,302,326 to 67,432,326 Euros. Since its stock exchange début in 2014, TLG Immobilien has made acquisitions to the tune of 280 million Euros.

Steilmann: IPO at last

Steilmann SE, the family run apparel manufacturer, is now traded on the stock exchange. Its shares have been listed Prime Standard on the Frankfurt Bourse since November 5. After revising its initial offer, Steilmann was able to place all its stock. It issued 2.25 million ordinary bearer shares and 250,000 green shoe options. The share price of 3.50 Euro each, yielded a gross revenue of almost 9 million Euros. In October, the original idea was to get launched on the stock market with 17 million ordinary shares and 2,550,000 greenshoe option shares in the 3.50-5.00 Euro price range.

A company spokesperson announced that turnover last financial year was approximately 896 million Euros. With its 8300 strong workforce, of which 60 percent based in Germany, Steilmann provides the whole vertical range of services for the value chain of the apparel industry from planning through production up to distribution.