Lincoln International represents the shareholders of Zimmermann & Jansen ("Z&J"), a leading specialist engineer of severe service valves and related flow control products, in the agreed sale of Z&J to IMI plc ("IMI"), the international engineering group, for an enterprise value of €135m
Frankfurt, October 2010 - Founded in Germany in 1877, Z&J is a highly respected manufacturer of critical process valve solutions for severe applications, primarily focused in the Refining & Petrochemical and Iron & Steel markets. Z&J has a global presence and approximately 40% of sales are in emerging markets, including Russia, India and China. Z&J also has a strong aftermarket business with around two thirds of sales coming from refurbishment, replacement, parts and service.
Z&J has manufacturing facilities in Germany, US, South Africa and China. Approximately 430 employees will be transferring with the business. In calendar year 2009, Z&J had sales of €125m and underlying operating profit (EBIT) of €15m.
Completion is subject to regulatory clearances which are expected to be received by 31 December 2010.
IMI plc is a worldwide company delivering innovative engineering solutions to global customers in clearly defined niche markets. IMI generated sales of GBP 1,785 million in 2009 and employs 14,000 people.
Founded in 1997, J. Hirsch & Co. is an Italian private equity firm with offices in Milan, Frankfurt and Luxembourg that currently advises on investments of its third fund, ILP III, which raised €270 million in 2008.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions and valuations on a wide range of transaction sizes. With 10 offices in Asia, Europe and North America Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com
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