Change of shareholders at ESSMANN GROUP

Investment management firm Taros Capital of Amsterdam is selling ESSMANN GROUP to the Quadriga Capital private equity company for 110 million euros. ESSMANN is one of Europe's leading suppliers of construction materials for light, air and safety technology. Taros Capital has stated that the management of ESSMANN GROUP will continue to hold shares in the company. ESSMANN is headquartered in Bad Salzuflen and operates a further production facility near Lyon.

The company is the leading supplier of systems for aerating and ventilating flat roofs and facades and for extracting smoke and heat in the interests of precautionary fire protection. ESSMANN GROUP's core business is divided into the specialist areas of light and air, safety, drive technology and industrial electronics. The Group generated revenues totalling some 130 million euros in 2006. The expansion experienced by the company in recent years has seen its workforce grow to around 780 staff.

Taros Capital acquired ESSMANN in 2000, expanded its business operations and organised the forthcoming handover to the next generation at management level. Quadriga Capital specialises in management buy-outs and growth financing for medium-sized companies in German-speaking regions, neighbouring countries and Russia.