Advised on Purchase of CompanyIndustrials
Acquired Majority Control of Business Operations
WDM Wolfshagener Draht- und Metallverarbeitung GmbH ("WDM"), a portfolio company of private equity firm Cross, and Deutenberg are merging to form a European market leader in customized spot-welded wire mesh solutions, wire bending parts, wire mesh and mesh elements. In addition, the investment company Gimv is acquiring a minority stake in the new WDM/Deutenberg Group. The Deutenberg group represents an ideal complement for WDM in terms of both products and end markets served. The transaction will enable the company to strengthen its market position, expand its product portfolio and manufacturing expertise, and jointly develop future innovations.
Founded in 1994 and based in Wolfshagen, Germany, WDM produces 35,000 spot-welded wire meshes daily. The company's core competence lies primarily in the custom fabrication of special industrial wire mesh. Customers include renowned companies from sectors such as construction, industry, trade, logistics and animal husbandry. Since the majority takeover by private equity company Cross at the beginning of 2018, WDM has been pursuing a distinct expansion strategy. At the end of 2019, the acquisition of Midrahtec Drahtwaren from Leisnig marked an important step on this growth path, bringing special expertise in sophisticated 3D forming and welding processes as well as a new location to the Group.
Cross is a private equity company that supports medium-sized businesses in Switzerland, Germany and Austria with equity capital, industrial expertise and an extensive network in their sustainable development. Succession solutions are the main focus. The independent cross funds are exclusively advised by Cross Equity Partners AG, CH-Pfäffikon SZ.
Deutenberg, based in Ense in the Sauerland region of Germany, has been a specialist in the development and manufacture of high-quality wire products for industry, architecture as well as retail and shopfitting for more than 60 years. The company is also known for its high level of expertise in the field of gabions.
The IMAP team exclusively advised Cross and WDM in all phases of the project. In addition to initiating the transaction, IMAP provided support in all financial and valuation-related issues, due diligence, financing of the transaction and contract negotiations up to the closing.