I-ADVISE advising Intercus GmbH on its growth financing

September 2018

Bad Blankenburg. Intercus GmbH retained I-ADVISE AG to assess options to fund its strategic growth perspectives. Such growth financing was provided by the new minority shareholder bm|t beteiligungsmanagement thüringen gmbh, Erfurt.

The cash injected into equity will support Intercus in its efforts to develop marketable product innovations and to expand into new regional markets.

„bm|t and Intercus form a partnership that is built on a long-term relationship and reliability. Intercus is therefore ready to cope with coming challenges and well-prepared to take advantage of new opportunities”, explained Thomas Busch, managing director of Intercus.

About Intercus

Since 15 years Intercus develops and manufactures implants in the field of traumatology and orthopaedy for domestic and international markets. Intercus specialises on polyaxial locking systems and innovative products enhancing wound healing.

Together with well-renowned clinics and universities from all over the world, Intercus’ R&D department seeks to develop new implants and to identify new materials. Intercus’ highest quality products are manufactured in a state-of-the-art production site in Thuringia.

About bm|t

Back in 2003, bm|t was founded by its sole shareholder Thuringia development bank (“Thüringer Aufbaubank”). Its funds are used to provide equity capital to younger and also well-established enterprises from Thuringia with particular growth perspectives. In general, equity financing is provided by Midcap Fund for Thuringia (“Mittelstands-Fonds Thüringen”) which is managed by bm|t.

I-ADVISE AG further expanding in Valuation Services

Düsseldorf, February: I-ADVISE continues its growth in valuation services and complements the valuation services team led by Dr. Jochen Beumer with Klaus Jürgens.

Effective 1 February I-ADVISE hired Klaus Jürgens, an expert in the field of valuation service particularly in the banking and insurance industry. After his training as a banker he studied business administration at the WWU Münster and passed the exam as a German tax accountant (“Steuerberater”). In his professional career he worked at a Big4 Accounting and Advisory firm and an international insurance group.

„We are very happy to welcome Klaus on board as a well-renowned valuation expert“, so Dr. Jochen Beumer, Head of Valuation Services of I-ADVISE AG.

I-ADVISE AG sponsors the ProTalent scholarship program of the WWU Münster

Düsseldorf, 1.2.2018: As part of the scholarship program ProTalent, I-ADVISE AG awards sponsorships to students at the Chair of International Accounting (IUR) at the Westfälischen Wilhelms-Universität Münster (WWU).

ProTalent is a scholarship program of WWU based on the German national scholarship program introduced by German government in 2011. The scholarship program of WWU is designed to support excellent students and to support education of young professionals. Frequent and regular contact and exchange of students with sponsors facilitate access to professional work experience.

Thanks to an improved financial independence sponsored students can focus on their studies and much better develop skills based on their talents.

Frank Berg, Partner of I-ADVISE AG, enthusiastically explains the commitment to the ProTalent scholarship program: „Sponsoring excellent performance and capabilities not only expresses our appreciation for talented and motivated students. We as a firm rate our role as sponsor as an excellent means to enter into exchange and discussion with tomorrow’s high performers. As a professional services firm we highly value quality and excellence not only in our work but also on the part of our employees. Participating in the scholarship program thus represents a consequent investment in the future success of our firm.“

I-ADVISE Spotlight on the fitness industry

The November issue of the I-ADVISE Spotlight “FITNESS – AN INDUSTRY IN MOTION” comments on fundamental trends, presents the leading European studio operators and provides information on the M&A activity in the industry.

Access the publication here.

I-ADVISE ADVISES THE SHAREHOLDERS OF MÜLLER-ELEKTRONIK ON THE SALE TO TRIMBLE

Frankfurt, July 2017: In the sales process of Müller-Elektronik to publicly traded Trimble I-ADVISE acted on behalf of the founding families. The transaction was completed on July 3, 2017 after customary closing conditions, especially antitrust clearance by the cartel authorities, had been satisfied.

Trimble acquires one of the leading companies in agriculture electronics and precision farming with activities in Europe and in North and South America.

Since its foundation in Salzkotten, East Westphalia/Germany in 1977, Müller-Elektronik has been a pioneer and leader in the development of agriculture electronics with ground-breaking innovations, establishing ISOBUS hardware and software solutions for agriculture. Today Müller-Elektronik employs more than 375 people worldwide.

Trimble, headquartered in Sunnyvale, California/USA, is a leading provider of advanced GPS based positioning technologies and systems for a variety of industries and applications. In agriculture, Trimble’s solutions include guidance displays for parallel motion and steering systems, GPS/GNNS systems, flow and application control, operational management software and much more.

„The merger of Trimble and Müller-Elektronik and the combination of both systems is solely possible by establishing a partnership of these two companies creating significant potential in this industry“, Christian Müller, managing director of Müller-Elektronik, points out.

The I-ADVISE team led by Andreas Ewers (Partner, Frankfurt) supported the shareholders of Müller-Elektronik as financial advisor during the entire sales process.

I-ADVISE is an accounting and advisory firm specialised in transaction and valuation services and is member of an international alliance of independent advisory firms.

I-ADVISE AG advises Wilo SE on the acquisition of Weil Pump and Scot Pump in the USA

Düsseldorf, March 2017: WILO USA LLC, a subsidiary of WILO SE, acquired in an asset deal the operative business of the pump manufacturers Weil Pump Company, Inc. and Scot Pump Company and the component manufacturer Karak Machine Corporation. The three companies with about 140 employees are headquartered and produce in Cedarburg, Wisconsin.

“The aim of this acquisition is to increase our regional presence and to accelerate our development of the North American market. This transaction represents an important step forward in the implementation of our intensified globalization strategy,” explains Oliver Hermes, Chief Executive Officer. Eric Lachambre, Member of the Executive Board at WILO SE and responsible for mature markets, adds: “Furthermore, we increase our application expertise and strengthen our US activities in Building Services and Industry.”

WILO SE is one of the world’s leading manufacturers of pumps and pump systems for building services, the entire water management chain and industry. The company, whose sales reached more than 1.3 billion euros, has its eyes firmly fixed on the future and is heavily involved in research and development.

The team of I-ADVISE led by Frank Sichau supported WILO SE as financial advisor in this process and supported in negotiations with the sellers.

I-ADVISE is an accounting and advisory firm specialised in transaction and valuation services and is a member of an international alliance of independent advisory firms.

Andreas Ewers joins I-ADVISE AG as Partner in Frankfurt office

November 2016: With Andreas Ewers joining I-ADVISE AG, the advisory team has been complemented with another senior expert in transaction advisory services. Andreas has comprehensive experience in corporate management and consulting corporations and their investors.

Andreas started his professional career as transaction services advisor at Arthur Andersen and EY. He assisted private equity investors, listed corporates and medium-sized companies (“Mittelstand”) in transactions with a focus on financial buy-side and sell-side due diligence as well as vendor assistance.

As CFO of a PE portfolio company, amongst others Andreas successfully helped to develop and establish structures and processes required for a growing business (e.g. acquisition of business operations and subsequent integration, working capital optimisation, cost improvement measures) and fulfilling the demands of a financial investor.

“We are convinced that Andreas’ transaction expertise as well as his PE experience will strongly contribute to our excellence-based consultancy approach and I-ADVISE’s future sustainable growth” states Frank Berg, Partner at I-ADVISE.

I-ADVISE AG advised TAI on the acquisition of Grunewald Stade GmbH & Co. KG

Düsseldorf, August 2016: On 14 July 2016 a German subsidiary of TAI Turkish Aerospace Industries headquartered in Ankara (Turkey) acquired all shares in Grunewald Stade GmbH & Co. KG, Stade (Germany). Grunewald Stade formerly was part of Grunewald-group based in Bocholt (Germany). I-ADVISE acted as exclusive financial and tax advisor.

Grunewald Stade in particular provides assembly and machining services for specific plane components such as rudders to the Airbus plant in Stade. Additionally, maintenance and logistics related services are offered to this key customer.

TAI provides technology in design, development, modernisation, manufacturing, integration and life cycle support for integrated aerospace systems. TAI ranks amongst the top-100 global players in the aerospace and defence industry.

TAI assesses the acquisition as strategic step in response to the ongoing consolidation of the European aerospace industry. The acquisition constitutes an initial measure in TAI’s growth strategy to become global supplier in the aerospace industry.

I-ADVISE acted as financial and tax due diligence advisor and supported TAI in negotiations with the sellers.

I-ADVISE is an accounting and advisory firm specialised in transaction and valuation services and is a member of an international alliance of independent advisory firms.

I-ADVISE AG advises Bader group and EquiVest on the aquisition of Baltic Metall Grevesmühlen

Düsseldorf, June 2016: As of 1 March 2016 Bader Holding GmbH, Senden, and EquiVest II GmbH & Co., Munich, aquired the Grevesmühlen site of Baltic Metalltechnik GmbH. Baltic Metalltechnik GmbH is a subsidiary of Körber group, Hamburg. I-ADVISE acted as exclusive financial advisor.

At Grevesmühlen, Baltic Metalltechnik GmbH, member of Körber Group’s Business Area Tobacco, produces mechanical components, sheet metal and assembly groups since 1992. The plant in Grevesmühlen will be integrated into Bader group as a competence centre for stainless steel processing.

Bader is a leading producer of metal switch cabinets/operator panels and compact metal enclosures for machine tool industry, packaging industry, plastics industry and woodworking. Bader provides specialised solutions as well as services ranging from product construction to customised logistics. By acquiring the Grevesmühlen site, Bader group will strenghthen its position as full service provider in metal processing and systems.

„At Bader we are looking forward to welcoming the team of Baltic Metall in Grevesmühlen.“, says Axel Buchholz, managing director of EquiVest and chairman of the supervisory board of Bader group.

The I-ADVISE team supported Bader group and EquiVest in financial due diligence including preparation of the investor case and in negotiations with the seller.

I-ADVISE advising iEXERGY in its growth financing

Düsseldorf, 15. June 2016: iEXERGY obtained growth capital from existing and new investors. I-ADVISE acted as exclusive advisor to the owners and management of iEXERGY GmbH. In May 2016 Arvato SCM Solutions provided funds to iEXERGY in exchange for a minority stake in iEXERGY, a developer of hard- and software, active in one of the biggest growth markets of the future “Smart Home”.

In addition to Arvato, WILO SE, a globally leading manufacturer of pumps and pump systems, increased its stake in iEXERGY. “Cooperating with iEXERGY and Arvato will strenghthen our application know-how and further enhance our systems expertise“, comments Oliver Hermes, chairman of the executive board of Wilo. Wilo is the sole manufacturer of pumps worldwide with a comprehensive portfolio of smart home products in building technology. „With Wilo and Arvato as strategic partners, we can push forward a strategic cooperation in order to broaden our own market proposition.“ explains Arne Feldmeier, managing partner of iEXERGY.

arvato SCM Solutions is an innovative and leading international service provider in supply chain management and e-commerce. In the fields of telecommunication, high-tech & entertainment, corporate information management, healthcare, consumer products and publishing, arvato SCM Solutions is offering specialised services. Approximately 14,000 employees worldwide work to provide services and practical solutions. arvato is a wholly-owned subsidiary of Bertelsmann SE & Co. KGaA.

With its 7,400 employees WILO SE generated revenues of 1.3 billion Euro in 2015 and is a globally leading manufacturer of pumps and pump systems for heating, ventilation and air conditioning, water supply and waste water disposal.

The team of I-ADVISE led by Frank Sichau supported WILO SE and iEXERGY as an exclusive financial advisor in this process.

I-ADVISE is an accounting and advisory firm specialised in transaction and valuation services and is a member of an international alliance of independent advisory firms.