StarragHeckert Holding AG has closed an agreement to acquire 100% of the shares of the Dörries Scharmann Technologie GmbH, thus the whole Dörries Scharmann Group. The corresponding contract for the purchase and transfer of the shares shall be finalized within the current week. Staff and business partners of both companies have been informed.
The purchase price of approx. € 70 mio is being financed by own funds and a bridge loan of the majority shareholder Walter Fust. The loan is planned to be refinanced by an increase of the shareholder capital in the next few months. The agreement to purchase Dörries Scharmann is with the insolvency administrator of the Austrian A-Tec Industries AG, in accordance with the legal representative of A-Tec Industries AG and with approval of the board of creditors Ideal combination
The profitable Dörries Scharmann Technologie GmbH with headquarters in Mönchengladbach/Germany produces machine tools of the renowned brands Dörries, Droop+Rein, Ecospeed, Scharmann and Berthiez for drilling, turning, milling and grinding of middle sized to very large working pieces. The company is a leader in this industry sector. In 2010, the group achieved a turnover of € 130 million with 790 employees.
The industrial logical is evident. Both StarragHeckert and Dörries Scharmann serve the same target markets, with fully complementary product ranges. Both of companies have in 2/3 the past been focusing on the high quality segment. Main customers worldwide are large financially solid global companies in the fields of aerospace, energy generation, transport and precision mechanical engineering.