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Nexia Ebner Stolz

The Firm

Ebner Stolz advises Knorr-Bremse on the sale of Powertech Group to Radial Capital Partners

  • Eb­ner Stolz ad­vi­ses the Knorr-Bremse Group in carve-out
  • Power­tech Group, with ap­pro­xi­mately 500 em­ployees, is one of the mar­ket lea­ders of power supply sys­tems for rail trans­port
  • The tran­sac­tion enab­les stra­te­gic rea­lign­ment and Group-in­de­pen­dent growth of Power­tech

Stutt­gart, 1st Oc­to­ber 2019 – Eb­ner Stolz ad­vi­ses the Knorr-Bremse Group in the sale of Power­tech Group to Ra­dial Ca­pi­tal Part­ners (RCP). The tran­sac­tion was sup­por­ted by an in­ter­di­sci­pli­nary team of au­di­tors, tax ad­vi­sors and ma­nage­ment con­sul­tants.

Power­tech is one of the lea­ding suppliers of au­xi­li­ary power supply sys­tems for rail trans­port and in­dus­trial ap­pli­ca­ti­ons in the field of power elec­tro­nics. The pro­duct port­fo­lio in­clu­des au­xi­li­ary con­ver­ters for rail trans­port and power supply sys­tems for in­dus­trial ap­pli­ca­ti­ons, which are pro­du­ced and sold at se­veral in­ter­na­tio­nal lo­ca­ti­ons. The sale was a com­plex carve-out tran­sac­tion. Terms and con­di­ti­ons of the tran­sac­tion are not dis­clo­sed.

Power­tech ope­ra­tes with 526 em­ployees at five lo­ca­ti­ons world­wide and has been part of the Knorr-Bremse Group since 2014. Knorr-Bremse is the Mu­nich-ba­sed world mar­ket lea­der for bra­king sys­tems and a lea­ding supplier of safety-cri­ti­cal sub­sys­tems for rail and com­mer­cial ve­hi­cles. It has a glo­bal sa­les net­work and ge­ne­ra­tes an­nual sa­les of around EUR 88 Mio (2018). Power­tech and its pre­de­ces­sor com­pa­nies have over 100 years of ex­pe­ri­ence in rail tech­no­logy. Their ser­vices co­ver the ent­ire va­lue chain, from de­ve­lop­ment and ma­nu­fac­tu­ring to af­ter­mar­ket ser­vice. The pro­duct port­fo­lio in­clu­des con­ven­tio­nal on-board con­ver­ters, but also in­no­va­tive so­lu­ti­ons such as Power­BriX or the LITE con­cept.

Ra­dial Ca­pi­tal Part­ners is an in­de­pen­dent and in­ter­na­tio­nally ope­ra­ting in­vest­ment firm ba­sed in Mu­nich. The com­pany in­vests in es­ta­blis­hed group com­pa­nies / busi­ness units and ow­ner-ma­na­ged me­dium-si­zed com­pa­nies in spe­cial si­tua­ti­ons or un­der­go­ing ma­jor tran­si­ti­ons.

The tran­sac­tion and the re­sul­ting stra­te­gic rea­lign­ment of Power­tech will enable the me­dium-si­zed com­pany to ac­ce­le­rate its growth in­de­pen­dently of the group and to strengt­hen its own mar­ket po­si­tion.

Ebner Stolz team:

  • Over­all pro­ject re­spon­si­bi­lity and ma­nage­ment: Dr. Wolf­gang Russ, Claus Buh­mann and Mi­chael Eu­ch­ner
  • Fi­nan­cial Fact Book / Ad­vi­sory: Dr. Wolf­gang Russ and Claus Buh­mann (Pro­ject lea­ding part­ners) as well as An­nette Lang, Ma­xi­mi­lian Mang, Ju­lian Kit­kowski and Oleksandr Melnyk
  • M&A Ad­vi­sory / Lead M&A-pro­cess: Mi­chael Eu­ch­ner (Pro­ject lea­ding part­ner M&A), André La­ner, Ma­xi­mi­lian Thiel and Ca­ro­lin Fehlings
  • Tax Fact Book, tax struc­tu­ring and con­tract draf­ting: Alex­an­der Eu­ch­ner (Pro­ject lea­ding part­ner M&A Tax) and Ste­fa­nie Schrötter
  • IDW S 6-re­port: Bern­hard Stef­fan (Pro­ject lea­ding part­ner IDW S 6-re­port), Sven Oberg, Jan Ros­sel and To­bias Lutz

Press Contact

Dr. Ul­rike Höreth
Eb­ner Stolz
Kro­nen­straße 30
70174 Stutt­gart
Tel.  +49 711 2049-1371
ul­rike.hoereth@eb­ner­stolz.de

Corporate Contact

Claus Buh­mann
Eb­ner Stolz
Ridler­straße 57
80339 Mu­nich
Tel.  +49 89 549018-251
claus.buh­mann@eb­ner­stolz.de

Mi­chael Eu­ch­ner
Eb­ner Stolz Ma­nage­ment Con­sul­tants
Kro­nen­straße 30
70174 Stutt­gart
Tel. +49 711 2049-1268
mi­chael.eu­ch­ner@eb­ner­stolz.de

Alex­an­der Eu­ch­ner
Eb­ner Stolz
Kro­nen­straße 30
70174 Stutt­gart
Tel.  +49 711 2049-1575
alex­an­der.eu­ch­ner@eb­ner­stolz.de

Bern­hard Stef­fan
Eb­ner Stolz
Kro­nen­straße 30
70174 Stutt­gart
Tel.  +49 711 2049-1178
bern­hard.stef­fan@eb­ner­stolz.de

About Ebner Stolz

Eb­ner Stolz is one of the lar­gest in­de­pen­dent mid-si­zed MDP firms in Ger­many and is among the Top Ten in the sec­tor. The firm has de­ca­des of in-depth ex­pe­ri­ence in au­diting, cor­po­rate fi­nance, tax ad­vice, le­gal ad­vice, and cor­po­rate con­sul­ting. Eb­ner Stolz ad­vise me­dium-si­zed in­dus­trial en­ter­pri­ses as well as Pri­vate Equity com­pa­nies and Fa­mily Of­fices in the course of na­tio­nal and in­ter­na­tio­nal tran­sac­tions.
 
Cross-bor­der tran­sac­tions are car­ried out in with part­ners of Ne­xia In­ter­na­tio­nal Ne­xia In­ter­na­tio­nal, one of the world’s top ten net­works of in­de­pen­dent con­sul­ting and au­diting firms. With more than 700 Ne­xia of­fices world­wide Eb­ner Stolz is pre­sent in more than 120 coun­tries.

About Knorr-Bremse

The Knorr-Bremse Group, head­quar­te­red in Mu­nich, has been a syn­onym for safe mo­bi­lity on rail and road for 110 years. The world mar­ket lea­der in bra­king sys­tems and lea­ding supplier of safety-cri­ti­cal sub­sys­tems for rail and com­mer­cial ve­hi­cles sees its­elf as an in­no­va­tor in the in­dus­try. With its two di­vi­si­ons "Com­mer­cial Ve­hi­cle Sys­tems" and "Rail Ve­hi­cle Sys­tems", it is dri­ving for­ward new mo­bi­lity and trans­port tech­no­lo­gies in or­der to help sha­ping glo­bal me­ga­trends such as ur­ba­niza­tion, di­gi­tiza­tion and au­to­ma­ted dri­ving. Knorr-Bremse em­ploys over 29,000 peo­ple at 100 lo­ca­ti­ons in more than 30 coun­tries.

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