GESCO AG has sold its majority interest in Protomaster GmbH, Wilkau-Haßlau/Germany. With effect from 8 December 2017, the company’s managing director, Mr. Lutz Gentsch, acquired the shares together with a co-investor. Livingstone has advised GESCO AG on the transaction.
The terms of this transaction have not been disclosed. Protomaster GmbH provides high-end metal forming tools as well as body parts and complex assemblies made from sheet metal to prestigious automotive customers.
Dr. Eric Bernhard, CEO of GESCO AG, on the sale: “We are pleased to have found with Mr. Gentsch an industry insider and proven expert of the matter as the new owner. This management buy-out has not changed our strategy of keeping companies fundamentally long-term and developing them further.”
GESCO AG is an industrial group with market and technology leaders in the investment goods industry focusing on production process technology, resource technology, health and infrastructure technology as well as mobility technology. As a stock listed company on the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of leading small and medium-sized industrial German companies, so-called hidden champions of Germany’s Mittelstand.