Exel Industries has acquired Intec from Eisenmann
Exel Industries SA, headquartered in Paris, France, is a group of companies in the agricultural, industrial and consumer markets, majority-owned and led by the Ballu family.
Intec GmbH & Co. KG is one of the leading providers of bonding equipment, such as pump and dosing systems for the automotive industry, mainly body assembly parts. The company employs approximately 120 full-time associates at its headquarters in Erftstadt, Germany, and provides equipment and services globally.
Yves Belegaud, CEO of Exel commented, “This strategic acquisition for EXEL Industries significantly strengthens our presence with vehicle manufacturers, particularly in Germany. The two companies share a passion for innovation and services to the benefit of particularly demanding customers. Intec and Sames Kremlin will mutually benefit from highly complementary product ranges and customers to develop their businesses to apply high-viscosity products in the car and general industry.”
The agreement for the acquisition of Intec was signed on 20 December 2019. Following clearance from regulatory bodies, closing was completed in February.
Intec, which has been operating standalone to maintain its strong profitability and continued growth momentum, was sold by Joachim Exner of Dr. Beck and Partner in his capacity as insolvency administrator of Eisenmann SE. The plant engineering specialist and former parent company of Intec had to file for insolvency in 2019.
Lincoln International continues to be a trusted advisor to Exel in France and Germany. As exclusive M&A advisor, Lincoln supported Exel in all aspects of the transaction, ranging from navigating the ongoing insolvency proceedings of Eisenmann SE as well as valuation support to the coordination of various due diligence work streams.
We were impressed how well the Lincoln team knows the German insolvency proceedings and unspoken rules of the game and how successfully our advisors navigated us through these aspects in what was a highly competitive process. It was a pleasure to work with the team at Lincoln.
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