Hörmannshofer starts a new growth phase with Bayern LB Private Equity Paris 18 July 2007

After a successful financial year 2006, the façade specialist Hörmannshofer plans a further expansion of the company activities with its new financial partner Bayern LB Private Equity. The company located in Marktoberdorf, Germany, is one of the leading providers in the field of heat-containing façade renewals and employs 400 people. Last year, Hörmannshofer with its two branches in Bavaria and two branches in former East Germany achieved a turnover of approximately Euro 30 million. 

The Heuser brothers, Managing Directors of Hörmannshofer, expect the new German Energy Saving Act (EnEG), which will be implemented as from July 2008, to stimulate the growth in the industry. The Act requires the introduction of an energy certificate for residences. “The owners of older residences in particular will first be acquainted with the possibilities available to save heating and hot water costs,“ said Heuser. „Hörmannshofer is very well equipped on the basis of its positioning to profit from the theme Energy Certificate,“ according to Heuser.  

The new partner Bayern LB Private Equity also pointed to the promising growth perspectives and expressed itself positively about the development made by Hörmannshofer with the partner AXA Private Equity these past few years: “We are glad to support a perfectly healthy company located in the Bavarian region, which is excellently positioned in a dynamic market environment,” said Jochen Ohnewald of Bayern LB Private Equity. Funds managed via AXA Private Equity had acquired shares in Hörmannsdorfer jointly with the management in the context of a succession scheme in 2002.

The following parties were involved in this transaction:

On the purchasing side:

• Bayern LB Private Equity: Klaus-Michael Höltershinken; Jochen Ohnewald; Rüdiger Pohl
• Commercial: AMR International
• Financial: ALLTAX GmbH
• Legal: Aderhold v. Dalwigk Knüppel
• Environmental: ERM GmbH
• Insurance: Willis

On the selling side:

• AXA Private Equity: Dirk Wittneben; Marcus Reeg
• M&A: Close Brothers (Ernst von Freyberg, Oliver Boot)
• Legal: Norton Rose (Dr. Nico Abel); Wolfgang Coutandin

Financing:

• Landesbank Rheinland Pfalz

Hörmannshofer (www.hoermannshofer.de)

Hörmannshofer is a specialist for heat-containing façades. The company with its 400 employees installs heat-containing systems for façades on old and new residences as well as pre-positioned façades with air circulation at the back. Hörmannshofer employs 400 people and has branches in the Bavarian towns of Marktoberdorf near Augsburg and Pöttmes as well as in Halle/Saale and in Niederdorf in Saxony.

Bayern LB Private Equity (www.bayernlb-pe.de)

Bayern LB Private Equity is the investment company of Bayern LB for medium-sized industrial enterprises. As a management company, it manages various Private Equity Funds for Bayern LB as well as for third party investors. The investment focus is on growth-oriented medium-sized enterprises in industry, trade and services sector with a minimum turnover of € 15 million. The Bayern LB Private Equity is active in Germany and Austria. 

Press contact:

Bayern LB
Karsten Buckenauer
Tel.: +49 89 55 25 63 44
K.Buckenauer@bayernlb-pe.de

AXA Private Equity
Jérémie Delecourt
Tel. +33 1 44 45 60 73
jeremie.delecourt@axa-im.com