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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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