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.

Portfolio companies

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 fitness, healthcare and beauty industry. At the Windhagen location, JK develops and produces devices under the brand names “Ergoline”, “Beauty Angel”, “Sun Angel”, “Wellsystem” and “Virobuster”. The fields of application include sun beds, natural collagen production, treatment of vitamin deficiencies, skin disorders, air purification to relief of orthopaedic conditions with UV, near infrared devices and massage systems as well as air hygiene systems.

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

At the FAKUMA Sesotec Focuses On Industry 4.0 And Ease Of Operation

At the FAKUMA Sesotec Focuses On Industry 4.0 And Ease Of Operation

Smart Factory - Increase in efficiency and quality through digitisation

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At the FAKUMA Sesotec Focuses On Industry 4.0 And Ease Of Operation

At the FAKUMA Sesotec Focuses On Industry 4.0 And Ease Of Operation

 

At the FAKUMA 2017 trade fair that will be held in Friedrichshafen from 17 to 21 October, Sesotec GmbH in hall B1, booth 1302, as trade fair highlights presents Industry 4.0-ready metal separators to trade visitors. These systems contribute to the optimisation of processes and to the minimisation of time and product losses.

 

The objective of plastics manufacturers and processors is to produce a maximum quantity of products in constant high quality. For achieving this objective the digitisation of processes is of decisive importance. For injection moulding, for example, digitisation in practice means that processes run stable and with high precision because information that is provided by peripherals such as metal separators is gathered in a network through standardised interfaces and machine parameters are thus automatically readjusted.

 

Networked Sesotec metal separators

Easy to use, highly robust, and efficient: These are the characterising properties of the PROTECTOR, RAPID PRO SENSE and GF metal separators that will be presented at the FAKUMA. 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.

 

Most machine and system manufacturers as well as plant operators today are faced with complex Industry 4.0 concepts. Concrete recommendations for action, however, are hard to find. Due to different communications solutions a system integration means immense efforts. This can now be remedied by OPC UA (Open Platform Communications Unified Architecture), which meets all the requirements of Industry 4.0 communication and is more and more established as a standard.

As an innovative company Sesotec concentrates on this type of integration to make metal separators "Plug & Play"-compliant.

 

Easy to use? Of course!

All the metal separators at Sesotec's trade fair booth of course also focus on ease of operation criteria. Intuitive user interfaces prevent user errors and thus increase process stability. The operating process is safe and the sequence of steps is logically structured. Data and the documentation in the system can be quickly accessed.

 

At the FAKUMA 2017 Sesotec presents proven metal separators and magnet systems for the plastics industry. Information about the presented systems can be found at www.sesotec.com/en/fakuma2017.

FRIWO verzeichnet starkes erstes Halbjahr 2017

FRIWO verzeichnet starkes erstes Halbjahr 2017

Die FRIWO AG hat ein starkes, leicht über den eigenen Erwartungen liegendes erstes Halbjahr 2017 verzeichnet...

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FRIWO verzeichnet starkes erstes Halbjahr 2017

FRIWO verzeichnet starkes erstes Halbjahr 2017

Ostbevern, 10. August 2017 – Die FRIWO AG hat ein starkes, leicht über den eigenen Erwartungen liegendes erstes Halbjahr 2017 verzeichnet und Umsatz und Ertrag gegenüber dem entsprechenden Vorjahreszeitraum deutlich gesteigert. Die Geschäftsentwicklung des Herstellers hochwertiger Ladegeräte, Akkupacks, Stromversorgungen und LED-Treiber hat sich nach dem außergewöhnlich starken und von Nachlaufeffekten aus 2016 geprägten Startquartal im zweiten Jahresviertel wie erwartet normalisiert. Die Umsatzerwartung des Vorstands für das Gesamtjahr 2017 wird bestätigt, die Ergebnisprognose dagegen leicht angehoben.

Wichtige Konzern-Kennzahlen erstes Halbjahr 2017

•    Der Konzernumsatz lag in den ersten sechs Monaten mit 75,2 Mio. Euro um 16,2 Prozent über dem Niveau des gleichen Vorjahreszeitraums
(64,8 Mio. Euro). Wachstumstreiber waren dabei die Bereiche kabellose Stromversorgungen für Werkzeuge, Elektromobilität, Medizinversorgung und Industrieautomatisierung. Die in diesen Produktbereichen erzielten Zuwächse konnten den strategisch geplanten Umsatzrückgang in margenschwächeren Teilmärkten deutlich kompensieren.

•    Das Konzernergebnis vor Zinsen und Steuern (EBIT) verbesserte sich erheblich um 3,8 Mio. Euro auf 5,4 Mio. Euro (erstes Halbjahr 2016:
1,6 Mio. Euro). Die EBIT-Rendite nahm auf 7,1 Prozent zu (Vorjahreszeitraum: 2,5 Prozent). Diese Entwicklung resultierte im Wesentlichen aus dem steigenden Anteil der Eigenfertigung durch das neue Produktionswerk in Vietnam und die fortlaufende Optimierung des Produkt- und Kundenportfolios mit Blick auf Marge und Rentabilität. Zugleich ist in Rechnung zu stellen, dass das Vorjahresergebnis durch die Anlaufkosten für den Aufbau der Fertigung in Vietnam sowie die Aufwendungen für den Produkttransfer in die neue Produktionsstätte belastet gewesen war.

•    FRIWO schloss das erste Halbjahr 2017 mit einem Konzernergebnis nach Steuern von 3,9 Mio. Euro ab (Vorjahreszeitraum: 1,0 Mio. Euro).

Ausblick auf das Gesamtjahr 2017

Der Vorstand geht davon aus, dass sich die Geschäftsentwicklung im dritten und vierten Quartal dieses Jahres in etwa auf dem Niveau des zweiten Quartals fortsetzen wird. Dabei wird FRIWO die strategische Reduzierung des Engagements in margenschwächeren Teilmärkten weiterführen. Zudem sind starke saisonale Schwankungen im Umsatz mit einigen wichtigen Kunden zu erwarten.

Der Vorstand bestätigt auf Basis des starken ersten Halbjahres die bisherigen Aussagen zum Gesamtjahr 2017. Er geht unverändert von einer leichten Steigerung des Konzernumsatzes unter Berücksichtigung gleichbleibender Währungsrelationen aus. Die Prognose für das Konzern-EBIT wurde dagegen leicht nach oben revidiert: FRIWO geht nun von einer Spanne von 7,5 bis 8,5 Mio. Euro aus (bisher: 7,0 bis 8,0 Mio. Euro).

Rolf Schwirz, Vorstandsvorsitzender der FRIWO AG: "Die Ergebnisse des ersten Halbjahres zeigen klar den Erfolg unserer Strategie der Mehrwertpositionierung gegenüber unseren Kunden. Wir haben damit eine gute Grundlage für das zweite Halbjahr. Für den langfristigen Erfolg von FRIWO bleiben innovative Produkte, Marktnähe zu unseren Kunden sowie schnelle und effiziente Prozesse wichtige Faktoren, denen wir künftig noch mehr Aufmerksamkeit schenken werden."

 

JK WITH NEW SHAREHOLDER FIT FOR THE FUTURE

JK WITH NEW SHAREHOLDER FIT FOR THE FUTURE

We are pleased to have found an ideal shareholder with VTC. Our new shareholder will invest in strengthening the core business and also accelerate our growth in new markets. The entire JK Team is looking forward to develop the future industry together with you.

Founded in Eitorf back in 1927 the small carpentry has become the worldwide leading sunbed manufacturer. For the past 30 years the brand Ergoline stands for timeless design, top service and easy maintenance, excellent performance, simple operation and uncompromising quality “Made in Germany”. As an innovative leader, JK successively extended its market leadership. Furthermore, the JK-Group has become an international light specialist in the lifestyle, beauty and healthcare market. With 335 employees the corporate group generated a turnover of 100 million Euros in 2016.

The founding family Walter Kratz has found a capitally strong new owner, who can support the JK-Group in its further growth and guarantees a reliable cooperation with our business partners. We are pleased to have found an ideal shareholder with VTC Industriebeteiligungen GmbH & Co. KG („VTC“).

"JK is an excellent complement to VTC,“ Stefan Leuze is delighted to say, Managing Director of VTC. "As a global leader with strong brands and experienced management JK is excellently positioned in its core business. VTC will invest in strengthening the core business further and also expects growth impulses from the fast growing fitness and beauty market.”

For the family Kratz as well as for the JK Management the sustainable and value-based oriented corporate strategy of VTC was the decisive factor for their choice in order to ensure the reliable and loyal cooperation with employees and partners on a long-term basis. Walter Kratz particularly wants to thank all employees, customers and partners for the cooperation over all these years. Together we were able to create and develop our industry even when times were difficult.

For you nothing will change! Now and in the future were are here for you with the same contact persons and the same high demand on our products and our service. The entire JK Team is looking forward to develop the future industry together with you.

About VTC:

VTC Industriebeteiligungen GmbH & Co. KG is a dynamically growing investment enterprise based in Munich. VTC invests exclusively with its own funds and in addition to the acquisition of new investments aims to support the further development of their group companies. With 5300 employees VTC currently generates and annual turnover of 750 million Euro.  www.vtc.de

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

Fax
+49 (0) 89 64949 - 450