Attractive, fast-growing niche player ensures further diversification of the portfolio
Duisburg, 26 October 2017. Franz Haniel & Cie. GmbH (Haniel) signed a contract on 24 October 2017 for the complete acquisition of ROVEMA. Haniel intends to acquire ROVEMA from the German financial investors Equita GmbH & Co. Holding KGaA and Equita GmbH & Co. CoVest KGaA (hereinafter referred to as “HQ Equita”) and from the CEO of the company, Thomas Becker. ROVEMA is a leading company in the development, manufacturing, maintenance and modernisation of packaging machines and systems. ROVEMA has grown by double-digit percentages in both of the past two years thanks to its diverse and innovative product portfolio and its service offers. Headquartered in Fernwald/Hesse and with branches and sales subsidiaries in over 50 countries, the company is expected to generate sales of around EUR 100 million in 2017. The Haniel holding company offers an outstanding basis for the future development of ROVEMA, which the current CEO Thomas Becker will continue. In addition, he will reinvest in the company.
“We are delighted to have acquired ROVEMA, a high-growth and high-margin business with many unique selling points in an attractive market for our portfolio,” says Haniel CEO Stephan Gemkow. “ROVEMA’s business model is unique in its combination of technological skills and proximity to its customers and produces excellent quality for hygienic and innovative packaging solutions. ROVEMA is an established innovator in this business segment, serves global megatrends and also has huge potential – both for organic and inorganic growth.”
The highly innovative company and its around 600-strong workforce is a leading manufacturer of machines for dosing, filling, sealing, cartooning and final packaging. ROVEMA has positioned itself as an end-to-end solution provider, where the focus, from development and manufacturing, through consultancy and project planning, to installation and acceptance, is always the partnership with the customer. Moreover, the range of services that is offered also includes the complete refurbishment and resale of used packaging machines as well as other service offers.
In addition to the head office and production premises in Fernwald, the company currently has locations in Europe, the US and Asia, which means it is active in over 50 countries. ROVEMA supplies customers from various segments of the food industry via this global network of branches and sales subsidiaries.
Management delighted with growth prospects
Thomas Becker, CEO of ROVEMA, is delighted with the prospects for growth under the umbrella of the Haniel holding company: “With Haniel’s long-standing expertise in developing companies, we can promote ROVEMA’s further growth in a quick and structured manner. This is a significant step in the company’s history. Sustainable economic, ecological and social action is an essential element of the corporate culture for ROVEMA. This is another area where we identify with Haniel.”
“We are convinced that we have found the best owner for ROVEMA in Haniel,” said Christine Weiß, HQ Equita partner, on the signing of the contract. “The holding has demonstrated with Bekaert Deslee and CWS-boco how successfully it develops its portfolio companies. This was what won the bidding process.”
Previous investments form good basis for future development
HQ Equita acquired ROVEMA in June 2015 from the managing partner Thomas Becker and two other private individuals. Since HQ Equita’s acquisition, the business has evolved dynamically. The steps taken together include the (re-)entry into the US and French markets by founding local subsidiaries and the acquisition of former sales agents’ activities. The company has also tapped into new application segments in the field of liquid food packaging and offered integrated robotic solutions. In response to strong growth, capacity in the company was expanded by building a new hall at the Fernwald site and significantly increasing the workforce by around one-fifth since the acquisition.
It has been agreed not to disclose the purchase price and the further details of the contractual arrangements. The transaction is subject to the approval of the responsible antitrust authorities.
Haniel was supported in the transaction by the following advisers: Berndt+Partner (CDD), ensign advisory (CDD), Ernst & Young (FDD), Glade Michel Wirtz (legal, purchase agreement) und HPC (environment).
HQ Equita was supported in the transaction by the following advisers: Alantra (M&A), Alvarez & Marsal (FDD), Roland Berger (CDD), Watson, Farley & Williams (legal, purchase agreement), Flick Gocke Schaumburg (taxes) and ERM (environment).