Latour acquires majority in Neuffer / fenster.com in Germany
Frankfurt, 21 December 2015. Investment AB Latour has, through its wholly owned company Latour-Gruppen AB, acquired 66.1 percent of the shares in Neuffer Fenster + Türen GmbH in Germany. The transaction will be completed on January 1st 2016.
Neuffer Fenster + Türen GmbH sells windows and doors online through its established e-commerce portals. Neuffer shows considerable growth through a strong position in its growing niche. Latour and the founder Philipp Neuffer will jointly continue to drive the growth of the company, e.g. through geographical expansion.
„Having carefully examined and evaluated multiple strategic options, we are happy to have found a perfect partner for our client Neuffer / fenster.com to further drive the growth of the company“, says Dr. Ingmar Ackermann, Managing Partner ACXIT Capital Partners, on the transaction.
The acquisition will be regarded as another investment directly under Latour. As in all their investments, Latour will take an active ownership role in the company. This is a further step for Latour into the digital world in a category that is close to many of their current investments. They foresee that Neuffer will contribute with valuable digitalization knowledge to their other businesses in the future. Neuffer has 24 employees and an expected turnover of EUR 13 million in 2015 and shows a profitability of 3 percent in a strong growth phase.
ACXIT Capital Partners acted as exclusive financial advisor to Neuffer Fenster + Türen GmbH in this transaction.
Philipp Neuffer, CEO of Neuffer Fenster + Türen GmbH contently states: “I was impressed by the outstanding process management and M&A dealmaking capabilities of Dr. Ingmar Ackermann and his team from ACXIT Capital Partners.“
ABOUT NEUFFER – fenster.com
Neuffer Fenster + Türen GmbH was founded in 1872 by Ludwig-Ulrich Neuffer in Stuttgart, Germany. Now in the fifth generation since its foundation under its Managing Director Philipp Neuffer the company sells windows and doors through its established online shops fenster.com and www.fensterversand.com (Germany), www.fenetre24.com (France) and www.fönster24.com (Sweden). Several new international online shops will soon be launched to further strengthen the company’s leading position in window and door e-commerce. (www.neuffer.de/en)
ABOUT Investment AB Latour
Investment AB Latour is a mixed investment company whose comprehensive business concept is to invest with a long-term perspective in sound companies that have their own products and that are considered to have a major internationalization potential. Latour’s operations are primarily operated in two business lines: the wholly owned industrial operations and an investment portfolio of listed holdings. In addition to the two principal business lines, Latour also owns a number of part-owned unlisted operations with good future prospects. (www.latour.se)
About ACXIT
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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Dr. Hartmut Vennen
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FTI Consulting
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Transaction Team:
Dr. Ingmar Ackermann, Managing Partner
Frank Noack, Managing Partner
Katharina Emde, Senior Associate
Christian Franke, Analyst