HW-Elektrotechnik GmbH is a Germany-based company engaged in developing, building, programing and installing automation technology and switchboard engineering products.SCHOTTEL GmbH, the Germany-based designer, developer, producer, and marketer of azimuthing propulsion, maneuvering, complete propulsion, and steering systems for ships and offshore applications, has acquired a majority stake in HW-Elektrotechnik GmbH, the Germany-based company engaged in developing, building, programing and installing automation technology and switchboard engineering products, for an undisclosed consideration.
HW-Elektrotechnik has a workforce of 82 employees. Through this acquisition, SCHOTTEL aims to deepen its vertical range of manufacturing and both companies aim to expand their business in the fields of automation technology and switchboard engineering and increase production volumes. Post acquisition, Harald Wendling will lead HW-Elektrotechnik.
Sources:
SCHOTTEL GmbH press release, 30 April 2014 (German)
VR Corporate Finance press release, 27 May 2014
DZ BANK AG
Advised in the sale of
HW-Elektrotechnik GmbH
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