Livingstone advises on merger of Kadow & Riese with Photon Group
Livingstone’s Industrial team is pleased to announce the integration of Kadow & Riese Laser- und Umformtechnik GmbH into Photon Group, led by Photon AG. Livingstone advised voestalpine Automotive Components Birkenfeld GmbH, the former owner of Kadow & Riese, on this transaction. The terms of this transaction have not been disclosed.
The subsidiaries of Photon Group are active in the fields of engineering of laser applications, laser-based and conventional metalworking and processing for a wide range of industrial applications as well as emergency and information technology, especially for the railway industry. Kadow & Riese is a specialized manufacturer of sheet metal prototypes and small series, mainly for customers in the automotive and railway industry as well as construction and agricultural machinery.
Mr. Steffen Neumann, CEO of Photon AG, said: “Both companies have already worked together successfully for many years in various customer projects. The team competencies of both companies will fit together perfectly. Together, we are one of the largest competence centers in the area of metal forming and laser technology in the Greater Berlin area.”
Dr. Harald Traxler, CEO of voestalpine Automotive Components Cold Stamping Group commented: “Livingstone was a key factor in finding the ideal partner for Kadow & Riese. Teaming up with Photon Group offers a great long-term perspective for the employees, the management and customers of Kadow & Riese.”