MBO: Halder acquires stake in school supplier Conen Group
Morbach/ Frankfurt a. M. — Halder has acquired a majority stake in the Conen Group, Morbach, through a management buy-out. The investment is a succession solution for the owner family, which had founded the company in 1965. Conen specializes in equipping educational institutions such as schools, kindergartens and nurseries in Western Europe, the Middle East and the USA.
One focus of the business is technical products for interactive learning, e.g. electrically adjustable mounts for electronic displays, which are increasingly being used internationally as learning tools. In addition, there is a wide range of furniture for schools and preschools in the core market of Germany and neighboring countries, with which Conen serves over 1,000 long-standing customers. Through in-house product development and manufacturing, Conen realizes high vertical integration, availability and flexibility in the implementation of customer requirements. Delivery and installation with our own logistics in Germany and neighboring countries ensures short delivery times and high final quality. In 2018, the company employed 225 people and generated sales of €37 million.
Growth potential arises from the increasing digitization of education systems, which has triggered double-digit growth rates for interactive displays internationally. Conen therefore plans to expand its cooperation with monitor manufacturers in the USA and the Middle East. Germany also has a favorable environment, with high levels of additional government spending planned for preschool and school in the medium term.
Halder has been active as an equity investor in Germany since 1991 and has provided equity capital for succession and growth to 39 medium-sized companies. Halder supports its portfolio companies in expanding internationally, focusing their strategy and business model, and investing to expand capacity and finance strategic acquisitions. The investment in Conen is the first investment of the Halder VI fund, which completed its capital raising in January 2019.