A team of Heuking Kühn Lüer Wojtek's Hamburg office led by partner Dr. Jörg Schewe represented the sole shareholder of Hamburg-based trading firm Laarmann & Peez GmbH on the sale of its shares to gb Meesenburg group. The strategic investor, one of Northern Germany's oldest trading companies, will take over 100 percent of the full-service provider for fittings, security technology and aluminum windowsills as well as all 28 employees and Laarmann & Peez's at Hamburg-Bramfeld location. The takeover is effective as at October 1, 2013.
"We are pleased that in Meesenburg group we found a buyer for Laarmann & Peez that knows the trading business and under the management of which the location and employees enjoy a long-term perspective," said Dr. Jörg Schewe, who had accompanied the entire sales process as lead specialist for M&A and corporate law. "We are convinced that the new investor will support and continue the strategic development, which has been introduced in the past few years." From 2010 to 2012, the company grew by an average of 6.4 percent annually and continuously increased its profitability. Revenue of the company, which was managed as a family-owned company in the second generation, stands at EUR 5.6 million. Laarmann & Peez's sole shareholder had to withdraw from operational management for health reasons.
"The expertise of Laarmann & Peez's employees, the sound position on the local market and the solid supplier and customer relationships are an important addition for us," said Martin Meesenburg, General Manager of gb Meesenburg group, which operates 21 branches with 600 employees in Northern Germany and thus ranks among the national industry leaders. "With this takeover, we are strengthening our market position in Hamburg. We very much look forward to collaborating with our new colleagues."
Laarmann & Peez:
The trading firm was established in 1966 and employs a staff of 28 at its Hamburg-Bramfeld location. Laarmann & Peez is a full-service provider in the three areas of fittings, security technology and aluminum windowsills by leading German brand manufacturers. In the field of fittings, Laarmann & Peez offers a wide range of products ready for pickup and exhibited in a high-quality showroom. In the security technology division, Laarmann & Peez is service provider for numerous Hamburg-based authorities in the field of digital and electronic locking technology. The aluminum windowsills division offers large growth potential since Laarmann & Peez is among others the only special solutions provider in Hamburg. The company's revenue is about EUR 5.6 million.
gb Meesenburg group:
Established in Flensburg in 1758, gb Meesenburg OHG group is one of Northern Germany's oldest trading companies of. As a specialized dealer for structural fittings, ironware, tools, machines, industrial materials and security technology, the group supplies customers in industry and the trades. About 600 employees work in the 21 branches all across Germany, making the group one of the national leaders in the industry. In addition to the German home market, Meesenburg group operates branches in several European countries.
Counsel to and representatives of Laarmann & Peez GmbH:
Heuking Kühn Lüer Wojtek, Hamburg
Dr. Jörg Schewe (M&A/Corporate, Lead)
Dr. Andreas Walle (Employment)
Fabian G. Gaffron (Tax)