Advent International, Boston, a private equity group, has acquired Moeller Group, one of Germany's largest privately owned industrial manufacturers. The value of the acquisition has not been disclosed.
Headquartered in Bonn, Moeller, formerly Kloeckner-Moeller, has approximately 11,000 employees worldwide and generates annual revenues of approximately $1.24 billion from 32 production facilities. Founded in 1899, Moeller distributes products into more than 80 countries around the world, selling directly to industry, distributors and wholesalers. Its main competitors include Schneider, Rockwell and Siemens. The company has a strong position in the growing European low-voltage components, automation and system markets. Its core products for the U.S. market include IEC motor controls and related products for the industrial and automation markets.
Ralf Huep of Advent International said, “Moeller has great future potential. Our plan is to work with the management to refocus the business on its core strengths, to increase its market penetration, and to take advantage of global growth markets.”
The Moeller management team of Theo Kubat, CEO; Robert Gaertner, CFO; and Joachim Goeddertz, managing director, industrial automation business unit, will be joined by Uwe Alwardt and Dave McLemore, both experienced in the electronics/industrial technology sector.
Kubat and Gaertner of Moeller's management board, said: “Advent's industry experience and global resources are good news for Moeller. With Advent, we will be able to further expand our market position and to establish a strong position in the global marketplace. Our priority is to maintain and develop our product portfolio at the highest technical level, so that the Moeller brand realizes its full potential.”
Advent International has been investing in the electronics and industrial technology sector for 16 years. Its investments include Panta, a group of Dutch industrial electronics companies acquired from Philips.