Binder Grösswang Advises Lafayette Mittelstand Capital on Acquisition of Gebauer & Griller’s Elevator Cable Business
Binder Grösswang advised Lafayette Mittelstand Capital on the acquisition of the elevator cable division of Gebauer & Griller in the form of a carve-out. The parties agreed to keep the key points of the transaction confidential.
Lafayette Mittelstand Capital is a Germany/Luxembourg-based mid-cap investor that targets carve-outs and special situations in the DACH region. The acquired elevator cable business encompasses locations in Austria, Slovakia and India and employs some 400 persons. Under the new name “Geba Cables”, it will support its global customers in achieving their growth targets in the coming years. The product portfolio ranges from standard flat cables through cables with integrated data elements to customer-specific solutions with fibre optic conductors. It also includes custom-made, just-in-sequence cable harnesses for any elevator system. Gebauer & Griller initiated the carve-out for the purpose of strengthening the strategic orientation of the GG group, which in the future will focus its resources on the growth fields of the automobile industry: e-mobility, autonomous driving and digitalization.
“We are pleased to have acquired the three [Geba Cables] locations and would like to thank all parties concerned in the M&A process,” commented a Lafayette Mittelstand Capital representative. “This acquisition is an ideal supplement to our participation portfolio and we are looking forward to the future cooperation with our new employees.”
The Binder Grösswang team, comprising Georg Wabl (attorney at law), Gottfried Gassner (partner) and associates Philipp Martin Schanner and Markus Sacherer (all specialists in corporate/M&A and restructuring) accompanied Lafayette through the entire process. The seller was advised by the Livingstone special-situations team (André Schröer), Rödl & Partner (Christoph Hinz) and DLA Piper (Christoph Mager, Michaela Wernitznig-Kittel).