21.02.2008

Teupen acquired

The Hanover based private equity firm, Nord Holding, has purchased a majority stake in Teupen, the Gronau, Germany based manufacture of truck and spider lifts. The current owners and managing directors, Alfons Thihatmer and Andreas Grochowiak, retain a significant share of the company and will continue to manage the business.
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Andreas Grochowiak (L) and Alfons Thihatmer

Teupen had revenues last year in the region of €45 million with 75 percent coming from exports. The company employs 160.

Since it’s founding in 1977 Teupen has evolved from being a manufacturer of standard work platforms to a world leader in the manufacture of crawler-mounted spider type aerial lifts for both indoor and outdoor use.

Nord Holding has a very broad portfolio but specialises in businesses that are facing succession issues and looking to expand. Thihatmer is in his mid 50’s with no aparent heir in the business.

The shareholders see opportunities to invest in and expand the business, with particular focus on the markets of the USA, India and Brazil which says Nord Holding, “offer special opportunities that should be tapped into.”

Nord Holding was founded in 1969 and is one of the leading private equity companies serving the medium-sized sector. It has investments in more than 50 companies, an equity portfolio valued at €260 million and disposable funds of €165 million.
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Matthias Kues, CEO Nord Holding

The company operates on a so-called “evergreen” basis with no time limitations, and so looks to the long term development and succession of Teupen rather than following a buy grow and sell strategy.