Clearwater International acted as sole financial adviser on the sale of 100% of the share capital of the Engelmann Group to NORD Holding and capiton.
Engelmann Sensor GmbH was founded in 1976. Since then, the company has developed into a market leader for electronic heating and cooling metering solutions in Europe. The product range, including electronic heat and water meters, radio modules, and the newly developed electronic heat cost allocators, covers a significant part of the increasingly important smart-metering market. With about 150 staff at the company’s headquarters in Wiesloch (Germany) and a production and distribution company located in China, Engelmann generates sales of approximately €35m.
With its over 40-year history, NORD Holding is among the leading private equity investors for upper mid-sized companies. Their main focus is the structuring and financing of corporate succession models, the acquisition of group segments and subsidiaries, and the expansion and financing of SMEs. NORD Holding operates as a so-called “Evergreen Fund”.
capiton is an independent, owner-managed financial investor with a fund volume of over €820m that mainly invests in large SMEs in Germany, Austria and Switzerland by means of MBOs and expansion financing.
Clearwater International, led by partner Axel Oltmann, advised the shareholders of Engelmann.