Lone Star Funds is taking over the business activities of Moenus Textilmaschinen GmbH from 01/02/2006. Contracts between bmt-beteiligungsmanagement thüringen gmbh, Lone Star and the remaining previous share holders were signed last Friday, 3 February 2006. The involved parties maintained silence about the purchase price.
The takeover encompasses all business areas at the sites in Gera, Mönchengladbach and Hamburg in Germany as well as Olomouc in the Czech Republic, with a total of approx. 400 employees.
The takeover will place the company in a better position financially, making it possible to continue strengthening the good market position and to instigate growth again after the last few years of stagnation.
Moenus Textilmaschinen GmbH is one of the world’s leading manufacturers of textile machines. The company offers machines, systems and system solutions in the field of weaving preparation and finishing. Moenus will continue to intensify its activities with the renowned brand names Sucker, Artos, Krantz and Stenex. In contrast to many competitors, Moenus consistently supports and promotes “German technology made in Europe” and only supplies high-quality machines from assembly plants in Europe. This should help in achieving future turnovers once again of more than € 100m.
Lone Star is a global private equity fund which focuses on so-called “distressed investments”. Among other things, this includes the acquisition, refinancing and capital reconstruction of companies that find themselves in a financial bottleneck. Germany is currently considered the most significant core market for the global investor.