Avedon Capital Partners teams up with founders to acquire Spindel- und Lagerungstechnik Fraureuth GmbH, a German specialized ball bearings and spindle manufacturer

Fraureuth/Düsseldorf/Amsterdam, 5 February 2019
Article in German (PDF)

Avedon Capital Partners (“Avedon”) teams up with founders to acquire Spindel- und Lagerungstechnik Fraureuth GmbH (“SLF” or “Company”), a niche manufacturer of specialized spindles and ball bearings located in Fraureuth, Germany. The transaction successfully closed on January 18th, 2019. The parties agreed not to disclose the purchase price or further details of the transaction.

As part of a succession solution, Avedon enters as a new shareholder whilst the four founders of SLF, Frank Schlegel, Siegfried Huster, Gerd Kahl and Heinz Peinl, retain a minority stake in the Company. In the course of this succession solution, the three founders, who are still active as managers, will gradually reduce their operational responsibilities over time. The founders and Avedon will support SLF’s growth plan by leveraging the combined expertise of the founders and Avedon’s experience as a successful growth capital investor in the precision ball bearings market.

As a hidden champion in the spindles and ball bearings technology segment, SLF delivers customized solutions for demanding customers active in industries such as mechanical engineering, food & beverage, motor manufacturing or pump manufacturing. SLF is headquartered in Fraureuth, a production site with a long history of specialized spindles and ball bearings manufacturing dating back more than 60 years. SLF was founded in 1993 following the bankruptcy of its predecessor company DKFL GmbH and is today regarded as a leading German manufacturer of specialized spindles and ball bearings. The success story of SLF is remarkable as the four founders grew the company from 29 employees in 1993 to a well- positioned, leading manufacturer of specialized spindles and ball bearings with an employee base consisting of 347 employees today and generating revenues of c.49m€ (2018).

Avedon together with the founders will support SLF in a collaborative approach towards new strategic goals, to further invest in its operations as well as to pursue new market opportunities. The ambition of both, the founders and Avedon, is to further strengthen SLF’s competitive positioning by focusing on attractive end-markets, growing its OEM customer base and fostering international growth.

Dr. Frank Schlegel, founder and managing director of SLF, comments on the transaction: “When we started the succession process together with Oaklins Angermann and KMS Zwickau in Spring 2018, it was important to us from the very beginning to find a new majority shareholder who knows our industry well and who can ensure a long-term future for our employees at the production site. We as founding shareholders are exceptionally proud of what we have been able to achieve together with our employees in the past 25 years. With Avedon we have found the ideal partner who will ensure a smooth transition and elevate SLF to the next level through a focused internationalization strategy. We are looking forward to working with Avedon.”

Alexis Weege, Investment Director at Avedon, adds: “SLF enjoys a remarkable success story as German hidden champion and we are looking forward to accompanying SLF’s growth path together with the founders. We will leverage our experience with industrial niche companies in general and especially in the precision ball bearings segment to help fostering international growth and further specialization of SLF over the coming years.”

About Spindel- und Lagerungstechnik Fraureuth GmbH
Spindel- und Lagerungstechnik Fraureuth GmbH (“SLF GmbH) is a spindles and ball bearings manufacturing company which was founded in 1993 following the bankruptcy of its predecessor company. The company is headquartered in Fraureuth (former East Germany) and today employs 347 employees. SLF offers spindles and ball bearings units in the diameter size range of 40m to 1600mm with a clear focus on high-end specifications for demanding applications. The company owns a production facility in Fraureuth, Germany and was able to grow continuously over time. In 2018, SLF generated revenues of c.49m€. Go to: www.slf-fraureuth.de for more information.

About Avedon Capital Partners
Avedon is a leading lower mid-market private equity firm in the Benelux and Germany, providing capital in partnership with strong founder/owners or management teams that have distinctive and ambitious growth plans requiring a step change. The Avedon team is located in Amsterdam (NL) and Düsseldorf (GER) with managed assets of more than €500 million. Through dedicated sector teams, Avedon seeks opportunities in niches within four sectors: i) Software & Technology, ii) Business services, iii) Industry & Engineering, and iv) Consumer products & Leisure. Throughout the cycles the team has supported 24 growth companies in the fields of strategy, sales growth, human capital, operational improvement and has achieved a strong track record of growth.

For further inquiries, please contact:
Hannes Hinteregger, Partner,
hannes.hinteregger@avedoncapital.com, +49 211 5988 901

Alexis Weege, Investment Director,
alexis.weege@avedoncapital.com, + 49 211 5988 906

Jan-Moritz Hohn, Associate,
jan-moritz.hohn@avedoncapital.com, + 49 211 5988 9084

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