Avedon Capital Partners, an experienced and passionate growth capital investor, has acquired a majority stake in Wilhelm Altendorf GmbH & Co. KG, the world leading manufacturer of sliding table panel saw technology.
The common objective is to extend the Altendorf´s premium position for machines and services in wood, metal and plastics processing with innovative products and technologies to sustainably capture new customer segments and markets through organic growth and by realizing external growth potential.
As part of the investment and restructuring the existing managing directors Joerg F. Mayer (43) and Wolfgang Ruhnau (48) acquired a minority stake in the company remaining to stand strongly for continuity in the management of the company. The transaction successfully closed on October 6, 2017. The Parties agreed not to disclose the purchase price or any further details to the transaction.
Plans for expansion
Altendorf, with headquarters in Minden, Germany, has recently celebrated 111 years in business. The companies most important product is the sliding table saw, invented by Wilhelm Altendorf in 1906. The flagship Altendorf F45 is widely perceived around the world as synonym for the brand and the finest product of its type. The company employs more than 250 people and has sustained continuous growth in the past years. In 2016 Altendorf generated revenues of 40m EUR. As a continual driver of innovation, Altendorf takes a leading role in the woodworking machine sector and has a strong position for further national and international growth.
Together with the existing management team, Avedon intends to further diversify the company and to continue developing new customer segments with the brand of Altendorf. In the spirit of Altendorf as a premium brand, in particular the areas of R&D, sales and services will be further strengthened and sustainably expanded. Additional double-digit-million Euro investments aim to further expand the product portfolio with special focus on digitalisation. In executing this strategy, the site in Minden will take an important role as the centre of global growth and of experienced employees in all organisational areas. Further investments into the organisation should ensure Altendorfs position as leading innovator within the sector in future.