Konrad Hornschurch sold in secondary buyout

Halder, which is part of the GIMV group, has sold its 72.9% stake in surface specialist Konrad Hornschurch in a secondary buyout to DZ Equity Partner and L-EA Private Equity. The management of Hornschurch will increase its shareholding. The sale has had a positive net impact of €12m on GIMV’s last published equity value as of June 30, 2005.

Halder invested €20m in the company when it backed the MBO in 2001. The company was founded in 1898. During the last five years, group turnover rose with rising profit margins from €100m to nearly €140m with approximately 780 employees and 80 representatives worldwide.