CirComp GmbH, a specialist in products based on high-performance fiber composites, was sold to Albany International Corporation, a NYSE listed developer and manufacturer of engineered components.
CirComp is an innovative manufacturer of structural aircraft components and has an excellent market position in the constantly growing field of carbon composites for lightweight parts. The Kaiserslautern based company has more than 50 highly qualified staff and was founded in 2009 by Dr. Ing. Ralph Funck who will stay with the company as managing director.
Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of fabrics and process felts used in the manufacture of all grades of paper products. Albany Engineered Composites is a rapidly growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries andemploys more than 4,400 people worldwide.
The team of IMAP M&A Consultants AG, around Torsten Denker and Martin Michalek, managed to initiate this cross-border transaction together with Capstone Headwaters (IMAP USA) and to advise the shareholder of CirComp GmbH in all phases of the process.
“I’m excited to welcome Dr. Funck and the CirComp team to Albany International. CirComp’s proprietary, highly automated manufacturing technologies will be a compelling addition to Albany’s current portfolio,” said Olivier Jarrault, Albany’s President and CEO. “Together we will be able to leverage our combined know-how, accelerating our technology development in thermoplastic composites and expanding our offering of innovative composite solutions to our customers.”
Dr.-Ing. Ralph Funck, Managing Director for CirComp GmbH said, "Thanks to IMAP’s international positioning and direct contacts in the US we were able to find Albany International as a strategic partner. Albany will enhance CirComp’s ongoing growth plans, supported by their global reach and strong customer relationships. Together we will strengthen one another’s advanced materials and engineered products capabilities. We look forward tosignificant strategic benefits from this combination, allowing us to even better serve our customers' needs. Our employees and management team are delighted to be joining the Albany organization and work together for continued growth and success.”
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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