Parcom DEUTSCHE PRIVATE EQUITY
12 November 2009
Parcom DEUTSCHE PRIVATE EQUITY
Parcom Deutsche Private Equity sells SSB Wind Systems to strategic partner – further Development of SSB Service GmbH as a global leading full-service provider for wind farms
Salzbergen / Munich, November 12th, 2009
Funds advised by Munich-based DPE Deutsche Private Equity GmbH (“DPE”) have sold their shares in SSB Group GmbH headquartered in Salzbergen/Niedersachsen (“SSB Wind Systems”), which represents the pitch systems production of SSB Group, to Emerson Electric Co. in St. Louis, Missouri/USA. SSB Wind Systems with production facilities in Salzbergen (Germany) and Qingdao (China) is one of the pioneers of the fast growing market of regenerative energy and a world market leader in providing electrical pitch systems and switchgears since 1995. SSB’s products, namely control systems and positioning drives, are core technologies in a wind turbine and ensure the highest wind turbine efficiency by optimizing the blade position.
With its disposal to Emerson, DPE hands over SSB Wind Systems to a partner with undisputed technological strength who will provide the company with significant new growth opportunities. Emerson is a global leader in process management, industrial automation, climate and motor technologies, as well as appliance solutions. The purchase price and details of the transaction were not disclosed.
The entities SSB Service GmbH and SSB Duradrive GmbH are unaffected by the sale and will remain with DPE and management shareholders. Both entities will be developed further by DPE to exploit significant growth potential and to unlock new market opportunities. DPE is a Munich-based investor providing growth capital to companies in sectors with long-term fundamental growth prospects. According to Volker Hichert, Managing Partner at DPE, the global growth prospects for SSB Service with its full service offering for wind farm operators are particularly promising. With the financial support of DPE these growth opportunities can be realized quicker and in a more sustainable fashion.
“In light of the ever growing importance of wind energy and the enormous forecasted growth, many strategic investors have been looking for technology leaders in the sector. Following very successful restructuring measures initiated by DPE over the last year, the partnership with Emerson will help SSB Wind Systems to gain additional growth momentum. We are handing over a well managed, fast growing company with excellent management and stable job perspectives to a strategic investor who is a perfect fit to support the company through its next growth phase”, Hichert continued.
Management of SSB Wind Systems particularly welcomes the partnership with Emerson, which allows it to better tap growth opportunities in the global wind energy market. “Emerson provides numerous opportunities for further developing our products into systems that will support our customers in sustainably increasing the efficiency of their wind turbines. We are looking forward to the collaboration“, adds Dr. Gisbert Schulze, Managing Director SSB Wind Systems.Close Brothers (Dr. Wolfgang Kazmierowski, Partner) and Watson, Farley & Williams LLP(legal) (Dr. Peter Christian Schmidt) served as advisors of DPE to this transaction.
About Deutsche Private Equity GmbH
Funds advised by DPE Deutsche Private Equity GmbH provide growth capital to companies in sectors with long-term fundamental growth prospects. DPE Deutsche Private Equity is an independent German private equity firm, which was launched by Marc Thiery and Volker Hichert in December 2007 with the backing of Parcom Capital, a pan-European investment subsidiary of the Dutch ING Group. Parcom Capital has over €1bn assets under management and has invested in over 250 private companies.
The fund currently advised by DPE Deutsche Private Equity GmbH (Parcom Deutschland I) has an initial committed capital of €250m and targets €5-50m equity investments in German, Swiss and Austrian middle-market companies with enterprise values of €10-150m in the following sectors: business services, education, healthcare, industrial technology and alternative energy/environment. As an active partner of management teams, DPE aims to develop companies over longer holding periods (5-10+ years) through organic and external growth.
For more information on DPE please visit www.pdpe.com.
Further information on this transaction can be obtained from:
Volker Hichert, Managing Partner
DPE Deutsche Private Equity GmbH, Ludwigstrasse 7, D-80539 Munich
E-Mail: info@pdpe.de, Tel.: +49 (89) 200038-0
