DYWIDAG-Systems International GmbH (DSI) acquires MET-TECH Industries Ltd.
DYWIDAG-Systems International GmbH (DSI) is pleased to announce that DSI has acquired MET-TECH Industries Ltd. on January, 3rd, 2008
MET-TECH, founded in 1981, is an important US producer of a wide range of mining products with strong R&D activities.
Situated in Cambridge, Ohio, MET-Tech is located in the northern region of the coal basin in the Appalachian Mountains. MET-TECH’s main activities include the development, production and supply of high quality ground support products and systems for the coal mining industry.
Commencing immediately MET-TECH will operate as DSI MET-TECH and will be part of DSI’s Mining Operations in the USA. Although the name may have changed, we can assure you that the management, staff and employees of MET-TECH as well as DSI are committed to maintaining the high level of service, technological innovation and product quality that has made MET-TECH a respected supplier in the USA. Our long term experience in mining as well as our global market position will enhance the level of service provided.
DSI is the global market leader in the development, production and application of Construction & Underground Systems with about 2,000 employees worldwide and operations across Europe, Asia-Pacific and the Americas. DSI has made strong progress over the past few years in terms of both solid financial performance and successful acquisitions. Also, DSI has successfully established its Mining product supply business.
“This acquisition is a further move in strengthening DSI’s market leadership for the supply of mining products and systems worldwide", commented Alan Henderson, Chief Executive Officer of DSI Mining America’s product supply business.
DSI are pleased to welcome MET-TECH within their Mining Business and are looking forward to also establish themselves successfully in the Central and South American mining market.
DYWIDAG-Systems International sold by Industri Kapital to CVC Capital Partners
Munich, July 10, 2007. Industri Kapital, a European private equity company, has signed an agreement with CVC Capital Partners, a leading international private equity company, regarding the sale of DYWIDAG-Systems International (DSI). DSI is the global market leader in the development, manufacture and supply of post-tensioning and geotechnical systems to the construction and mining industries. The purchase price was not disclosed. The transaction is subject to customary anti-trust approvals.
DSI, headquartered in Aschheim near Munich, has approximately 1,900 employees at over 70 locations globally. Industri Kapital acquired DSI in 2005 from insolvent Walter Bau AG. The company achieved strong organic growth and drove global expansion through 14 successful add-on acquisitions in related product areas.
Eric van Lammeren, CEO of DSI, comments: “Industri Kapital was the right partner for us at the right time. Thanks to Industri Kapital’s expertise, DSI has developed into a strong global player and has significantly outperformed market growth in all core activities. We are confident of successfully continuing our growth strategy together with CVC Capital Partners.”
Prior to the acquisition by Industri Kapital, DSI generated approx. 300 million euros in sales (2004). For 2007, DSI anticipates sales of around 700 million euros. Since 2005, DSI’s sales thus grew by approx. 35 per cent per annum.
“The acceleration of DSI’s growth was primarily driven by the successful implementation of a buy-and-build strategy together with the management of the company,” explains Detlef Dinsel, a partner with Industri Kapital.
Daniel Schmitz, Senior Managing Director of CVC Capital Partners in Frankfurt, is delighted with the acquisition: “DSI is an outstanding company. We look forward to further strengthening the company and supporting the management in the future development of the company.”
DSI contributed significantly to the consolidation of the industry through its global expansion. Since 2005 DSI acquired leading suppliers to the construction and mining industries, including Artéon and Galaxy in France, Contec Bausysteme in Germany, Soprofint in Chile, Fasloc and American Commercial Inc. in the U.S. as well as ALWAG Tunnelausbau in Austria.
For further particulars, please contact:
Industri Kapital: Detlef Dinsel, Partner, Tel: +49 40 369 8850
Charlotte Laveson, Communication Manager, Tel: +46 8 678 95 51
DSI: Eric van Lammeren, CEO, DSI, Tel: +49 89 30 90 50 285
CVC Capital Partners: Markus Talanow, Hering Schuppener Consulting,
Tel: +49 69 92 18 74 70
About Industri Kapital
Industri Kapital is a European private equity firm with Nordic roots, managing close to EUR 4 billion in fund commitments. Since 1989, Industri Kapital has acquired 64 European companies. The current portfolio encompasses 21 companies with a total turnover close to EUR 8 billion. Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth.Current investments in Germany include Sport Group and Minimax. Previous Industri Kapital’s investments in Germany include GARDENA.
For further information on Industri Kapital: www.industrikapital.com
About DSI
DSI is the world’s leading systems supplier in the fields of civil engineering and underground construction. Their products and services are mainly used in infrastructure projects, for instance for bridges or slope stabilization as well as in mining roof support and tunnel construction. In 2007, the civil construction division will generate approx. 60 per cent of DSI’s total sales revenues, with the underground division contributing the balance of around 40 per cent. Today, DSI is the only enterprise in this niche market with a presence in all global growth areas of the construction and mining industry. In the market segments of underground strata support, geotechnology systems and post-tensioing, DSI ranks first worldwide; in tunnel construction, DSI is the market leader in Europe and the U.S. In the field of special products (concrete accessories) DSI ranks third in Europe.
About CVC Capital Partners
CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm founded in 1981, with a network of 18 Offices and 160 employees throughout Europe, Asia and the United States. CVC is currently investing from CVC Fund IV, CVC Asia II and CVC Tandem Fund with an aggregate of more than $15bn in equity capital. The CVC team’s local knowledge and extensive contacts underpin a 25-year proven track record of investment success. CVC has the ability to bring an enormous amount of cross-border resource together quickly to focus on winning transactions. The current European portfolio totals 36 investments and includes: Formula One, the world's leading motorsport rights management business; AA/Saga, a leading affinity brand business; Cortefiel, one of the largest specialised clothing retailers in Spain; Debenhams, Britain's leading department store group; and Seat Pagine Gialle, the leading directories business in Italy. The current Asian portfolio totals 10 investments and includes PBL Media, Australia's largest diversified media group (including Channel Nine and NineMSN) and DCA, Australia's leading healthcare company.
DYWIDAG-Systems International (DSI) acquires Commercial Structures and Systems LTD. (CSS) in the UK
Recently, DSI acquired the UK company CSS. CSS is specialized in the supply of mine and tunnel excavation and strata control products and systems. It is strongly focused on the UK mining and tunneling market and is valued by its clients for its reliability and local experience of over 30 years.
DSI is a global market leader in the development, manufacturing and distribution of systems and products for the construction and underground markets. Headquartered in Munich, Germany, DSI employs more than 2,000 employees worldwide in its operations across Europe, Asia-Pacific and the Americas.
The acquisition is another expansion step for the DSI group which is clearly in accordance with its principle “Local Presence - Global Competence”. The advantages of this development for DSI and the previous highly experienced shareholders who will continue as employees are significant. DSI will have access to the experience and relationships that have been established by CSS while CSS will have access to the full range of DSI Mining and Tunneling products as well as DSI’s Technical support capability.
Bob Bishop, the COO of DSI Mining and Tunneling, commented that “This acquisition enables DSI Mining and Tunneling to strengthen its presence in the European market and to further expand its broad range of products for this industry. As DSI’s key focus is on developing, manufacturing and supplying quality high-grade products and systems for the tunneling market, it is now coordinating all of its R&D activities into a new specialist tunneling division with its headquarters located at the offices of ALWAG in Austria”.
This will result in more effective service for customers who will undoubtedly benefit from the transfer of technology between DSI companies which have developed expertise in all aspects of strata control technology. Consequently, the new company CSS will form the UK base for the DSI Tunneling and Mining division.