M & A

XING Job fair for a career network

At the beginning of this year, the Xing AG career network bought up the entire share package of Intelligence Competence Center (Deutschland) AG for 6.3 million Euros. Intelligence Competence Center manages the biggest job search engine in the German-speaking world. TecDax-listed Xing announced that the sales contract was signed at the end of January while economically, the actual purchase is effective from January 1, 2015. If the targets for 2015 and 2016 are met, the founder and main shareholder of Intelligence Competence Center could be the beneficiary of a further 2.4 million Euros by the end of February 2017.

Gesco: stick by stick

At the end of last year, Setter GmbH & Co, an SME subsidiary of the Gesco AG holding company took over Setterstix Corp of the United States. Despite their common origins, the two companies have for decades gone their separate ways. SDax-listed Gesco AG has not divulged the price of the transaction which will further strengthen the presence and portfolio on the US market of Setter, a world leader in the manufacture of paper sticks. According to Gesco, Setterstix’s forty-strong staff produce a yearly turnover of some 10 million Euros. Setter’s customer base is predominantly the hygiene industry with cotton-wool buds for ear cleansing, whereas Setterstix is a leading US manufacturer of paper sticks for the confectionery industry.

Adler Modemärkte: takeover accomplished

Textile retailer Adler Modemärkte AG successfully concluded its takeover of the fashion maison Kressner GmbH & Co. KG. The deal by which both the maison and the active partner Kressner GmbH became part of Prime Standard-listed Adler, was ratified in January after the monopolies commission gave its authorization. The shareholdings come from ReweBeteiligungs-Holding National GmbH and the Sanktjohanser family. The deal is expected to enhance Adler’s profitability and make a positive contribution to its Ebitda as early as 2016. Adler’s turnover in 2013 was some 529 million Euros and its Ebitda approximately 43 million Euros.

Grammer: Alone in China

Grammer AG, the SDax-listed supplier to the automotive industry has broadened its market base in China by acquiring the 40% stake held by its Chinese partner JiangsuYuhua in the prior Grammer Seating (Jiangsu) Co. Ltd. joint venture. Now, the sole proprietor of the sprung seating manufacturer for industrial vehicles, Grammer has acquired more flexibility to respond to the needs of the biggest market for heavy industrial and profit from the growing demand for these trucks in Asia. The company has not divulged the price of the transaction.