About us

We are an industrial holding company with steady growth, which originates from acquisitions as well as the organic development of our group companies.

Entrepreneurs with long track record

We started building VTC from the mid 1990ies. At that time we were one of the first private equity firms in Germany, investing external capital mostly from high net worth individuals. Since 2004 we are able to live our dream: by investing our own equity, we became entrepreneurs ourselves. This allows us to take a long view concerning VTC and its group companies. Unlike a private equity investor, we have no exit focus.

Holding with added value

As sparring partners for the top management of our group companies we provide support in strategic discussions or selected projects. Our group companies are fully independent of each other, and the holding does not provide any central functions for the group. We emphasize the importance of flexibility and quick decision making.

Professional acquirer

Our strong experience and solid financial background (our holding is fully equity financed) makes us a trusted partner for corporates or entrepreneurs in divestment processes. Due to our lean structure we can take quick decisions and offer flexible deal structures. Being entrepreneurs ourselves helps us to understand the motivation and  emotions of private sellers.

Strong corporate values

Our team has grown organically over the last 20 years. The resulting company culture is based on strong values, which we carry into our group companies. We rate the long term impact of our actions higher than short term financial results. An investment in a company is also a commitment from our side towards customers, employees and financing partners.

VTC in Numbers

EUR 650 m
turnover
5.400
employees
EUR 300 m
equity
up to EUR 50 m
equity per transaction
over 150
deals per year reviewed

The VTC Team

Philipp Freyschlag
Philipp Freyschlag
Partner

Philipp joined VTC in 2004 right after university. Since then he has been involved in a number of deals in Germany and Switzerland. He actively supports the management of portfolio companies. Philipp has gained in-depth experience in mechanical and plant engineering as well as renewables.

He coordinates all financing matters and banking relations in the group.

Philipp is an Austrian citizen and has a business degree (lic.oec.HSG) from the university of St. Gallen, Switzerland.

Christian Kalasch
Christian Kalasch
Senior Investment Associate

Christian is with VTC since 2016. He supports transaction processes as well as the development of group companies (e.g. in add on acquisitions).

From 2011 to 2015 he worked for Commerzbank M&A in Frankfurt and London and William Blair in their Frankfurt, London and Chicago offices. He was involved in numerous buy side and sell side mandates and advised clients on strategic portfolio optimizations. His industry focus was on industrials, health care and services.

Christian holds a bachelor degree in business (finance and accounting) from Ludwig-Maximilians-University in Munich and a master’s degree in finance from St. Andrews University in Scotland.

Jürgen Leuze
Jürgen Leuze
Managing Partner

In the early years of VTC Jürgen worked on a number of industry roll ups and held management positions in portfolio companies. Since then he has responsible for many transactions and gained broad experience in the industrials and renewables space. Jürgen is in charge of Global Castings A/S.

Before his time at university he worked as a trainee for HypoVereinsbank AG in Munich. He is an active shareholder in the Leuze family business.

Jürgen holds a business degree (lic.oec.HSG) from the University of St. Gallen, Switzerland.

Stefan Leuze
Stefan Leuze
Managing Partner

Stefan has overseen a number of VTC‘s transactions in Germany and Switzerland, mostly in the mechanical and plant engineering businesses. He is in charge of Sesotec GmbH and JK Group.

Before joining VTC Stefan was partner in a turnaround consulting firm where he also took on interim management positions. He started his career as a trainee at HypoVereinsbank AG and later worked for Bain & Company in Munich and London.

Stefan serves as a board member of the Leuze Group.

He has a business degree from Ludwig-Maximilians-University in Munich.

Julius Mährlein
Julius Mährlein
Senior Investment Associate

Julius joined VTC in 2015. He works on transactions as well as portfolio management tasks.

From 2011 to 2014 he worked for GCA Altium and was involved in numerous buy side and sell side mandates, mainly in consumer goods and retail. In addition he was able to gain in-depth capital markets know how.

Julius holds Bachelor and Master of Science in International Business degrees from Maastricht University, Netherlands.

Richard G. Ramsauer
Richard G. Ramsauer
Managing Partner

During his time at VTC Richard was responsible for a number of transactions in the industrials, infrastructure and electronics space. He manages VTC’s interests in Europoles GmbH & Co. KG and FRIWO AG. He is also in charge of public relations at VTC.

Before joining VTC Richard worked for Bain & Company as a project manager in the Munich and Stockholm offices. During his time at Bain he focused on strategy work and efficiency programs in the industrials and commodities sectors. Richard also spends some time on his forestry estate in Austria.

Richard is an Austrian citizen and holds a business degree from the University of St. Gallen, Switzerland and an MBA from the University of Chicago, USA.

 

Dr. Thomas Robl
Dr. Thomas Robl
Managing Partner

Before co-founding VTC in 1992 Thomas had worked for IMM Industrie Management München, back then one of the first private equity firms in Germany.

During his time at VTC Thomas applied his long experience at numerous transactions. In the early years of VTC he initiated and implemented a number of industry roll-ups and took on executive positions in portfolio companies. Thomas co-founded one of the leading German private equity fund-of-funds and today is a member of the company’s supervisory board.

Thomas holds a PhD (Dr.rer.nat.) in physics from the Technische Universität Munich and an INSEAD MBA, France.

Helmut Scheel
Helmut Scheel
CFO

Helmut is responsible within VTC for group reporting, taxes, treasury and financing.

Before VTC he worked for Deloitte Munich in their corporate finance and auditing divisions.

Helmut has a business degree of Friedrich-Alexander-Universität Erlangen-Nuremberg. He also holds a CPA and German auditing degree.

Dr. Ulrich Wolfrum
Dr. Ulrich Wolfrum
Partner

Since 2000 Ulrich has worked on numerous transactions at VTC. In addition he chaired strategic projects and add-on acquisitions at portfolio companies. He is responsible for deal sourcing at VTC and is the contact person for investment banks and M&A advisors.

Ulrich started his career at A.T. Kearney in Munich and Dusseldorf. There he focused on efficiency programs and strategy development in the consumer goods, retail and energy sectors, where he could apply the experiences from his family business.

Ulrich holds a business degree and a PhD in business from Ludwig-Maximilians-Universität in Munich.

Majority shareholdings

Europoles GmbH & Co. KG

Europoles is the leading European manufacturer of poles and towers made of steel, concrete and fibre reinforced plastics for a large variety of infrastructure applications. With its extensive engineering and manufacturing expertise Europoles is able to effectively serve all of its cus-tomers’ needs – from the installation of antenna masts and towers for communications or for power transmission networks, the electrification of high-speed rail traffic, to the reliable delivery of more than 200,000 lighting poles a year.

Europoles is able to participate in the growth of the international market for infrastructure equipment while benefitting from a highly diversified application and customer portfolio.

Headquarter:
Neumarkt (Germany)
Sales (EUR m):
155
Employees:
1.220
FRIWO AG

The FRIWO brand stands for high quality power supply and charging equipment. FRIWO globally develops, manufactures and markets highly efficient power supply and charging devices that are designed to meet a wide range of technical and country-specific requirements. Based on a global manufacturing and sourcing structure FRIWO is able to deliver leading edge technology at highly competitive prices.

FRIWO’s main market segments are household appliances and tools, industrial applications, medical equipment and e-mobility solutions.

 

Headquarter:
Ostbevern (Germany)
Sales (EUR m):
135
Employees:
2.150
Global Castings AS

Comprising of three foundries and two machining facilities for large casted items Global Castings is ideally positioned to supply its customers from the wind- and energy industry with high quality machined items. The international footprint with facilities in Europe and Asia enables Global Castings to deliver its products worldwide.

Headquarter:
Lem (Denmark)
Sales (EUR m):
180
Employees:
1.200
JK-Gruppe GmbH

JK Group is a worldwide leading manufacturer of devices for the tanning, fitness, and beauty industry. At the Company’s headquarter in Windhagen (Germany), JK develops and produces devices under the brand names “Ergoline”, “Beauty Angel”, “Sun Angel”, “Wellsystem” and “Virobuster”. The fields of application include cosmetic tanning, red light and near infrared applications for skin care, dry water massage as well as air purification.

Headquarter:
Windhagen (Germany)
Sales (EUR m):
100
Employees:
360
Sesotec GmbH

Sesotec manufactures machines and systems for the detection/separation of contaminants, for product inspection, and for the sorting of material flows. Product sales primarily focus on the food, plastics, pharmaceutical, wood, textile, and recycling industries. Sesotec is one of the world’s leading suppliers with seven subsidiaries and more than 40 agencies all over the world.

The leading facility for design, development and manufacturing is located in Germany. The products’ export quota amounts to over 50%.

Headquarter:
Schönberg (Germany)
Sales (EUR m):
65
Employees:
500

Acquisitions

We are constantly looking for new investments for further growth. Due to our lean decision making processes any new investment opportunity will be analyzed quickly by our team. We have earned a reputation for finding creative solutions suited for every new transaction. Since we invest our own money, we think long term and do not focus on exit strategies.

We are looking for companies which fulfill the following criteria:

Sector:
We have no sector focus. In the past we have done transactions in production oriented businesses, industrial services and retail.

Size:
Our group companies range from EUR 60m to EUR 200m in sales. Even with substantial growth potential investments should have revenues of at least EUR 30m.
We also look for add on acquisitions for our portfolio companies which can be smaller.

Investment amount and regional focus:
We are looking for majority stakes but will also consider a qualified minority. We invest equity tickets of up to EUR 50m, in case of larger transactions we would work with a partner.
Our regional focus lies on Germany, Austria and Switzerland.

News

Networked Sesotec Solutions at the FAKUMA

Networked Sesotec Solutions at the FAKUMA

OPC UA (Open Platform Communications Unified Architecture) presented for the first time...

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Networked Sesotec Solutions at the FAKUMA

Networked Sesotec Solutions at the FAKUMA

At Sesotec's trade fair stand Manuel Rückert (left) and Jörg Schaper presented metal separators for the protection of injection moulding machines, extruders, and blow moulding machines.

 

A well-attended FAKUMA 2017 is over, and also this year Sesotec convinced trade visitors with the metal separators presented at the trade fair. At the FAKUMA Sesotec not only maintained existing business relations with customers and partners but also was able to establish many new national and international contacts.  The trade fair presence with the new "Purity matters" corporate claim was a complete success.

 

At the FAKUMA 2017 Sesotec presented metal separators of the PROTECTOR, RAPID PRO SENSE and GF series. These systems reliably detect and separate magnetic and non-magnetic metal particles even if they are enclosed in the granulate, and they thus ensure the quality of plastic products. Injection moulding machines, extruders, and blow moulding machines are protected against damage and clogging, the output is increased, and the amount of rejects is reduced. Metal separators contribute to the optimisation of processes, to the minimisation of time losses, and to cost savings.

 

At this year's FAKUMA trade fair Sesotec for the first time presented OPC UA (Open Platform Communications Unified Architecture) which meets all the requirements concerning Industry 4.0 communications. OPC UA is increasingly being established as a standard. Additional advantages: The criteria of easy operation have been considered, intuitive user interfaces prevent user errors and thus increase process stability. The sequence of operation is safe and follows logical steps. Data and documentation in the system can be quickly accessed.

 

FRIWO nach neun Monaten 2017 mit deutlichem Ergebniszuwachs

FRIWO nach neun Monaten 2017 mit deutlichem Ergebniszuwachs

Konzernumsatz steigt um 8,5 Prozent auf 108,8 Mio. Euro EBIT mit 7,5 Mio. Euro signifikant...

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FRIWO nach neun Monaten 2017 mit deutlichem Ergebniszuwachs

FRIWO nach neun Monaten 2017 mit deutlichem Ergebniszuwachs

Ostbevern, 8. November 2017 – Die FRIWO AG, Hersteller hochwertiger Ladegeräte, Stromversorgungen, Akkupacks und LED-Treiber, hat in den ersten drei Quartalen 2017 den Umsatz weiter gesteigert und die Ertragslage deutlich verbessert.

Der Konzernumsatz erreichte von Januar bis September 108,8 Mio. Euro, ein Plus von 8,5 Prozent gegenüber dem gleichen Vorjahreszeitraum (100,3 Mio. Euro). Gegenüber den Vorquartalen schwächte sich erwartungsgemäß die Umsatzdynamik weiter ab. Diese Entwicklung ist zum Teil durch die Veränderung des Kundenportfolios der FRIWO bedingt. Gleichzeitig hat FRIWO das Geschäft mit kabellosen Stromversorgungen im Bereich Werkzeuge weiter gestärkt, wo sich die Kunden aber zumeist bereits im Frühjahr für die Saison bevorraten.

Das Konzernergebnis vor Zinsen und Steuern (EBIT) erhöhte sich deutlich um 3,5 Mio. Euro auf 7,5 Mio. Euro gegenüber dem gleichen Vorjahreszeitraum (2016: 4,0 Mio. Euro). Außer von dem Umsatzanstieg profitierte FRIWO dabei von dem steigenden Anteil der Eigenfertigung durch das 2015 gegründete Produktionswerk in Vietnam, von der weit fortgeschrittenen Optimierung des Produkt- und Kundenportfolios mit Blick auf Marge und Rentabilität sowie von der Verbesserung interner Abläufe.

Der FRIWO-Konzern schloss die ersten neun Monate 2017 mit einem Gewinn nach Steuern von 5,1 Mio. Euro ab (Vorjahreszeitraum: 2,6 Mio. Euro).

Die FRIWO-Gruppe beschäftigte zum 30. September 2017 weltweit 1.939 Mitarbeiterinnen und Mitarbeiter (Jahresende 2016: 731). Der starke Anstieg ist zu weiten Teilen auf die erstmalige Einbeziehung der Anfang dieses Jahres akquirierten Wandler- und Drosselfertigung in Vietnam zurückzuführen. Die Mitarbeiteranzahl in Deutschland lag mit 260 Mitarbeiterinnen und Mitarbeitern zum Stichtag in etwa auf dem Niveau des Vorjahresendes (262).

Ausblick auf das Gesamtjahr 2017 nochmals optimistischer

Wie am 7. November 2017 in einer Börsenpflichtmitteilung bekannt gegeben,  hat der Vorstand nach abgeschlossener Auswertung vorläufiger Zahlen für den Monat Oktober die Ergebnisprognose für das Geschäftsjahr 2017 zum zweiten Mal nach oben angepasst. Ging er bisher von einem Konzern-EBIT in Höhe von 7,5 bis 8,5 Mio. Euro aus, so erwartet er jetzt ein EBIT zwischen 9,5 bis 10,0 Mio. Euro. Beim Konzernumsatz präzisiert der Vorstand seine bisherige Aussage eines leichten Wachstums und geht für das Jahr 2017 nunmehr von einem Wert von mehr als 140 Mio. Euro (Vorjahr: 134,6 Mio. Euro) aus.

Ein vorteilhafter Produkt- und Kundenmix führte zu einem überdurchschnittlich positiven Oktoberergebnis. Zudem wurden interne Abläufe, z.B. durch die Anschaffung neuer Software, vereinfacht und beschleunigt, wodurch Personal- und Fixkosten unter den Planungen gehalten werden konnten.

 

#1 IN FITNESS - THANK YOU!

#1 IN FITNESS - THANK YOU!

WOW! Ergoline was voted Number 1 by German fitness clubs in the category Wellness and Spa for the 10th time!

The award is based on a Germany-wide market survey and is presented by the leading European fitness industry magazine bodyLIFE. We are honored to recieve the prestigious bodyLIFE Award and thank everybody for your trust in Ergoline!

Address
VTC Industriebeteiligungen GmbH & Co. KG
Promenadeplatz 12
D-80333 München
Phone
+49 (0) 89 64949 - 0

Fax
+49 (0) 89 64949 - 450