Advised on Purchase of a Minority Stake


Stelter Zahnradfabrik GmbH

Leading European manufacturer of metal gear wheels Germany

Acquired a Minority Stake

ZWP Zahnradwerk Pritzwalk GmbH

Manufacturer of cylindrical spur gears Germany

Advised Stelter Zahnradfabrik on the acquisition of a minority stake in Zahnradwerk Pritzwalk

Stelter Zahnradfabrik GmbH acquired a minority stake in Zahnradwerk Pritzwalk GmbH, headquartered in Pritzwalk (Brandenburg). Berlin-based Andreas & Peiffer Group acts as the main shareholder of ZWP. The two new shareholders took over the company out of insolvency proceedings and will continue the business activities under the name of ZWP Zahnradfabrik Pritzwalk GmbH.

ZWP Zahnradwerk Pritzwalk GmbH, Pritzwalk, Germany

ZWP is one of the largest manufacturers of cylindrical spur gears in Europe, covering the entire value chain from the manufacturing of gear wheels and shafts. In 2016, ZWP’s turnover amounted to €22 million. Ongoing liquidity problems led to the Company’s insolvency at the end of 2016.

Stelter Zahnradfabrik GmbH, Bassum, Germany

Stelter Zahnradfabrik is the leading European manufacturer of high-precision metal gear wheels. The company is headquartered in Bassum (Lower Saxony), close to Bremen. A highly-automated machine park enables the company to produce gear wheels for a diversified customer base including the automotive industry, industrial applications as well as the wind energy and railway industry (large gear wheel production). In 2016, Stelter employed approximately 370 people and generated sales of more than €60 million. Through the acquisition of a minority stake in ZWP, Stelter will be able to strengthen its global presence particularly in the field of industrial applications and large gear wheels and moreover increase its flexibility in production.


IMAP initiated the transaction on behalf of Stelter Zahnradfabrik GmbH and handled it in all its phases.

Experts who worked on the transaction