GESCO : sells stake in Protomaster GmbH as part of a management buyout
December 08, 2017 at 08:05 am EST
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DGAP-News: Gesco AG / Key word(s): Miscellaneous/Miscellaneous
GESCO sells stake in Protomaster GmbH as part of a management buyout
08.12.2017 / 14:00
The issuer is solely responsible for the content of this announcement.
P R E S S R E L E A S E
GESCO sells stake in Protomaster GmbH as part of a management buyout
Wuppertal, 08.12.2017 - As announced in February 2017, GESCO AG has sold its majority interest in Protomaster GmbH, Wilkau-Haßlau. With effect from 8 December 2017, the company's managing director, Mr. Lutz Gentsch, acquired the shares together with a co-investor.
Dr. Eric Bernhard, CEO of GESCO AG, on the sale: "We are pleased to have found with Mr. Gentsch an industry insider and proven expert of the matter as the new owner. This management buyout has not changed our strategy of keeping companies fundamentally long-term and developing them further. "
The transaction has no impact on the outlook of GESCO AG for the current financial year 2017/2018. GESCO recently forecast consolidated sales of around EUR 530 million and Group net income after minority interest of around EUR 18 million.
About GESCO
GESCO AG is an industrial group with market and technology leaders in the investment goods industry focusing on production process technology, resource technology, health and infrastructure technology as well as mobility technology. As a stock listed company on the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of leading small and medium-sized industrial German companies, so-called hidden champions of Germany's Mittelstand.
08.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
Gesco AG
Johannisberg 7
42103 Wuppertal
Germany
Phone:
+49 (0)202 248200
Fax:
+49 (0)202 2482049
E-mail:
gesco@gesco.de
Internet:
www.gesco.de
ISIN:
DE000A1K0201
WKN:
A1K020
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Gesco AG is a Germany-based investment company that acquires industrial small and medium-sized enterprises (SMEs). The Company focuses on production process technology, resource technology, health, and infrastructure technology, as well as mobility technology, and operates as a long-term investor. It manages takeovers both through management buyouts (MBOs) and management buy-ins (MBI), and through group spin-offs. It offers machines, production facilities, tools, components, and services from steelmaking to 3Dimension (3D) printing, from medical technology to special purpose mechanical engineering. The Company operates in Germany and its subsidiaries include, among others, Astroplast Kunststofftechnick Gmbh & Co KG, Franz Funke Zerspanungstechnik GmbH & Co KG, Doemer GmbH & Co KG Stanz- und Umformtechnologie, Doerrenberg Edelstahl GmbH, MAE Group, SVT GmbH, Frank Group and Setter Group.