23.10.2006

Pfaff acquired by Equity fund

EQT Opportunity Fund, a Stockholm based private equity investor, has acquired an 85 percent stake in Pfaff Silverblau, the German based producer of material handling and specialist access products.

The acquisition will occur through an increase in the company’s capital, with the Pfaff family remaining as shareholders in the business. EQT, which is backed by the well known Wallenberg family, invests in companies that face business or financial challenges, with the aim to help turn it around and realise a significant gain on its investment.

Pfaff Silberblau has operations in the UK, France, Hungary, Poland and the Netherlands as well as an extensive network in Germany. The company makes and distributes and extensive range of hoists and lifting gear. In the UK it also distributes Böcker products, including the Alp Lift push around platforms and trailer mounted aluminium cranes.

“We are convinced that Pfaff-silberblau is acting in a very interesting and growing industry. The development potential of the operations and the committed employees were major reasons for our investment decision”, said Ernst Ludes, partner at EQT Partners. “We are also very happy to announce that Mr. Sven Stork, who is a proven chairman and former CEO within the EQT network, has accepted the chairmanship of the future Pfaff -silberblau board.

Pfaff-silberblau was established 135 years ago and is headquartered in Derching/Friedberg, with 325 employees and revenues in 2005 of € 64million.