- Ebner Stolz advises the Knorr-Bremse Group in carve-out
- Powertech Group, with approximately 500 employees, is one of the market leaders of power supply systems for rail transport
- The transaction enables strategic realignment and Group-independent growth of Powertech
Stuttgart, 1st October 2019 – Ebner Stolz advises the Knorr-Bremse Group in the sale of Powertech Group to Radial Capital Partners (RCP). The transaction was supported by an interdisciplinary team of auditors, tax advisors and management consultants.
Powertech is one of the leading suppliers of auxiliary power supply systems for rail transport and industrial applications in the field of power electronics. The product portfolio includes auxiliary converters for rail transport and power supply systems for industrial applications, which are produced and sold at several international locations. The sale was a complex carve-out transaction. Terms and conditions of the transaction are not disclosed.
Powertech operates with 526 employees at five locations worldwide and has been part of the Knorr-Bremse Group since 2014. Knorr-Bremse is the Munich-based world market leader for braking systems and a leading supplier of safety-critical subsystems for rail and commercial vehicles. It has a global sales network and generates annual sales of around EUR 88 Mio (2018). Powertech and its predecessor companies have over 100 years of experience in rail technology. Their services cover the entire value chain, from development and manufacturing to aftermarket service. The product portfolio includes conventional on-board converters, but also innovative solutions such as PowerBriX or the LITE concept.
Radial Capital Partners is an independent and internationally operating investment firm based in Munich. The company invests in established group companies / business units and owner-managed medium-sized companies in special situations or undergoing major transitions.
The transaction and the resulting strategic realignment of Powertech will enable the medium-sized company to accelerate its growth independently of the group and to strengthen its own market position.
Ebner Stolz team:
- Overall project responsibility and management: Dr. Wolfgang Russ, Claus Buhmann and Michael Euchner
- Financial Fact Book / Advisory: Dr. Wolfgang Russ and Claus Buhmann (Project leading partners) as well as Annette Lang, Maximilian Mang, Julian Kitkowski and Oleksandr Melnyk
- M&A Advisory / Lead M&A-process: Michael Euchner (Project leading partner M&A), André Laner, Maximilian Thiel and Carolin Fehlings
- Tax Fact Book, tax structuring and contract drafting: Alexander Euchner (Project leading partner M&A Tax) and Stefanie Schrötter
- IDW S 6-report: Bernhard Steffan (Project leading partner IDW S 6-report), Sven Oberg, Jan Rossel and Tobias Lutz
Dr. Ulrike Höreth
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Ebner Stolz Management Consultants
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About Ebner Stolz
Ebner Stolz is one of the largest independent mid-sized MDP firms in Germany and is among the Top Ten in the sector. The firm has decades of in-depth experience in auditing, corporate finance, tax advice, legal advice, and corporate consulting. Ebner Stolz advise medium-sized industrial enterprises as well as Private Equity companies and Family Offices in the course of national and international transactions.
Cross-border transactions are carried out in with partners of Nexia International Nexia International, one of the world’s top ten networks of independent consulting and auditing firms. With more than 700 Nexia offices worldwide Ebner Stolz is present in more than 120 countries.
The Knorr-Bremse Group, headquartered in Munich, has been a synonym for safe mobility on rail and road for 110 years. The world market leader in braking systems and leading supplier of safety-critical subsystems for rail and commercial vehicles sees itself as an innovator in the industry. With its two divisions "Commercial Vehicle Systems" and "Rail Vehicle Systems", it is driving forward new mobility and transport technologies in order to help shaping global megatrends such as urbanization, digitization and automated driving. Knorr-Bremse employs over 29,000 people at 100 locations in more than 30 countries.