Heuking Kühn Lüer Wojtek advised Odewald KMU, a German company specializing in the holding of mid-sized companies, on the sale of Pforzheim-based Helmut Klingel Group. The transaction closed on October 19, 2012.
Helmut Klingel Group specializes in the manufacturing of micro-machined precision parts for medical and industrial technology. The company was established in 1986 and in 2011, with a staff of about 200, generated revenue of EUR 23 million. The specialist company manufactures precise parts from difficult-to-machine materials such as stainless steel or titanium according to customer specifications, including dental and spinal implants, and is integrated in the R&D activities of its clients. At the Pforzheim location, small or medium-sized batches are being manufactured with the use of CNC turning, CNC milling and wire eroding equipment that was considerably expanded in 2008.
The Odewald KMU fund, issued with a volume of about EUR 150 million at the end of 2008, invests in medium-sized, established and high-growth companies in German-speaking countries. Investors in Odewald KMU are mainly German institutional investors, but also include asset management companies and private investors.
In 2008, the Cologne-based M&A team had already advised on Odewald KMU's acquisition of a holding in Helmut Klingel GmbH. After Heuking Kühn Lüer Wojtek had successfully advised Odewald KMU on six acquisitions in the past, the Cologne M&A team was also lead adviser to Odewald KMU in the sale of the Helmut Klingel holding.