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Jan Philipp Gieselberg
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CEO Marcus Linnepe acquires equity stake from financial investor and promotes the concentration on Berndes
- Linnepe becomes the largest shareholder of CFC with 35.2%
- Negotiations regarding the sale of the electronics segment are in progress
- Profitable, substantial growth planned for Berndes
- Change of company name to Berndes AG intended
At CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund, the shareholder structure is subject to significant change. Marcus Linnepe, CEO of the company, acquires the equity stakes of Heliad Equity Partners GmbH & Co. KGaA and Altira AG in the amount of collectively 24.95 per-cent (2,107,622 shares) and, therefore, becomes the largest shareholder with 35.2 percent. The actual purchase price of the transaction will not be disclosed.
It is the defined goal of CFC to make its investment Berndes, one of the leading German cookware manufacturers, the core of all future activitites. Linnepe has taken over the operative management of Berndes approx. 15 months ago and has since been promoting the successful restructuring of the traditional German brand with its roughly 160 employees and more than 90 years of history. In last FY2011, EBITDA of Berndes could accor-dingly be improved by more than 4.5 mn Euro compared to the previous year. Moreover, for the first time in years Berndes plans positive results again in the current business year. Until 2016, Berndes anticipates an in-crease in sales by 50 percent and a significant increase with respect to profitability. To achive this goal, Berndes has inforced its international expansion, especially with regards to its "Made in Germany" products. This allows Berndes to position itself in foreign markets as a quality brand. Currently, Berndes has an export ratio of roughly 30 percent, which is significantly lower than the industry average. First positive results have already been encountered.
The electronic segment currently held by CFC shall be sold on a short term basis. A respective M&A process has been initiated and is well advanced. Once the sale of the electronics segment is completed, CFC's management board intends to suggest to the annual shareholder meeting to rename CFC Industriebeteiligungen AG to "Berndes AG".
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