Stelter Zahnradfabrik GmbH has taken over minority shares in Zahnradwerk Pritzwalk GmbH, based in Pritzwalk (Brandenburg). The main shareholder is the Berlin-based Andreas & Peiffer Group. The two new shareholders have acquired the company out of insolvency will continue the former company’s activities under the name ZWP Zahnradfabrik Pritzwalk GmbH.
ZWP is one of the largest private gear manufacturers for cylindrical gearing in Europe and covers the entire value-added chain of the production of gears and shafts. In 2016, ZWP achieved sales of EUR 22 million, but suffered from persistent liquidity problems that led to insolvency at the end of 2016.
Stelter Zahnradfabrik, based in Bassum (Lower Saxony, Germany), is the European quality leader for metal gear wheels and sprockets. The company manufactures gears for the automotive industry, for industrial applications and large gears for wind turbines and the railway industry, on highly automated systems. In 2016, the company generated sales of more than EUR 60 million and had approximately 370 employees. Stelter's investment in ZWP strengthens Stelter's presence, particularly in the field of industrial gears, as well as increases its flexibility in production.
IMAP in Germany advised on the transaction, with its team consisting of Dr. Joachim Koch (Partner), Henning Graw (Partner) and Philipp Noack (Analyst).
Last weekend, IMAP colleagues from all over the world were due to congregate in Denver, Colorado, for a conference planned for many months, where deals, learning, and friendships would be developed and shaped. Even a month ago when the difficult decision was made to cancel the event, none of us could have foreseen the speed and scale of events that have occurred since.
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