Grundig Business Systems acquires Elektron Systeme with VR Equity and INDUC
Frankfurt am Main / Bayreuth — With the support of its shareholders VR Equitypartner and INDUC, Grundig Business Systems GmbH (GBS) acquires 100 percent of the shares in Elektron Systeme from Weißenohe. With this acquisition, GBS strengthens its positioning in the field of electronic assembly and systems (EMS) manufacturing.
Founded in 2009, Elektron Systeme is a certified EMS service provider based in Weißenohe, Germany. The group consists of Elektron Systeme und Komponenten GmbH & Co KG and its sister company ib Prozessleittechnik GmbH & Co KG. As a one-stop store rooted in the region and a full-service partner for leading OEMs in medical technology and industry, Elektron Systeme manufactures complete electronic assemblies and device units. The company covers the entire electronics value chain and accompanies its customers from feasibility studies to device construction, from new developments to logistics services. Recent investments in new SMD production capacity and a fully automated warehouse provide modern production conditions.
Grundig Business Systems GmbH (GBS) is a medium-sized production and service company based in Bayreuth. VR Equitypartner, together with its subsidiary VR Equity Gesellschaft für regionale Entwicklung in Bayern mbH, had acquired a minority stake in GBS from INDUC in 2016. As both GBS and Elektron Systeme are active in the production of electronic assemblies and systems, the acquisition is intended to strengthen the GBS EMS business unit — among other things through the mutual transfer of experience and expertise and the expansion of the production spectrum.
The seller is the founder and previous sole shareholder Frank Streit, who will act in an advisory capacity after the transaction. Operational management remains in the hands of the existing management team: Michael Walter (Commercial Division) and Harald Weiß (Technical Division).
Frank Streit, who, like Harald Weiß, originally comes from GBS, sees the transaction as a win-win situation: “The sale to GBS is an important strategic step for Elektron Systeme, because there are many operational synergy approaches due to the spatial as well as cultural proximity of the two houses.”
GBS Managing Director Roland Hollstein also sees it this way: “With Elektron Systeme, we have the chance to integrate additional manufacturing and production expertise for our EMS area into the company. For example, we are thinking of implementing a best-practice system for the two sites in Bayreuth and Weißenohe.”
Christian Futterlieb, Managing Director at VR Equitypartner, is also pleased about the new partnership: “The integration of the two companies represents a great opportunity for further growth. Among other things, both companies can now benefit from Elektron Systeme’s long-term customer relationships with several German blue-chip manufacturers in the medical technology and industrial sectors. We believe this puts GBS in an excellent position for the future.”
Dr. Frank Töfflinger, managing partner of INDUC and initiator of the GBS business unit “EMS”, also sees in the acquisition a consistent continuation of the EMS growth course, especially as the sales of the business unit will almost double with the acquisition.
VR Equitypartner at a glance
VR Equitypartner is one of the leading equity financiers in Germany, Austria and Switzerland. The company supports medium-sized family businesses in a goal-oriented manner and with decades of experience in the strategic solution of complex financing issues. Investment opportunities include growth and expansion financing, corporate succession or shareholder changes. VR Equitypartner offers majority and minority investments as well as mezzanine financing. As a subsidiary of DZ BANK, the central institution of the cooperative banks in Germany, VR Equitypartner consistently puts the sustainability of corporate development ahead of short-term exit thinking. VR Equitypartner’s portfolio currently comprises around 60 commitments with an investment volume of EUR 400 million.