PRINT THIS PAGE Advent sells German electronics group Moeller to Doughty Hanson for €1.1bn20/07/2005. Source: AltAssets. 
 Advent International has sold its industrial electronics firm Moeller Group to UK-based private equity firm Doughty Hanson & Co for a purchase price of €1.1bn including pension liabilities and financial debt. Having overseen a major turnaround in the firm's performance since buying it in 2003, Advent said it would consider reinvesting some of its sales proceeds in Moeller once the transaction had closed.
Bonn-based Moeller focuses on automation, command and control devices, motor starters and drives, circuit breakers and building automation and currently has around 8,000 employees. Moeller generated consolidated sales of €870m in the financial year 2004/2005, with core operations accounting for €760m of this sum.
Since Advent acquired Moeller in December 2003 the company has successfully undergone a major corporate turnaround. Within the first year of Advent's ownership, a strategic disposal programme delivered over €100m in cash proceeds, and the company returned to operating profitability.
Theo Kubat, CEO of Moeller Holding, said, 'Since Advent International invested in the business, Moeller has staged an incredible financial recovery. We were significantly loss-making two years ago, and today we are enjoying double-digit sales growth rates. Doughty Hanson's investment will help us to solidify our market-leading position and support a long-term growth strategy by capitalising on opportunities in Eastern Europe and Asia.'
Ralf Huep, general manager, Advent International, added, 'We are delighted with the progress the company has made in refining its strategic focus and returning to profitability. Thanks to a high quality management team and strong employee base, Moeller has overachieved on the plan to refocus the business on its core strengths, increase its market penetration and take advantage of global growth markets.'
'The business is in great shape today, and we wish management and employees the very best in the next phase of their development. We are highly optimistic about Moeller's success in the future and will consider reinvesting a portion of the proceeds from the sale post closing,' Huep continued.
Advent has offices in 13 countries across North America, Western and Central Europe, Latin America and Asia Pacific. The firm's investments in the electronics and industrial technology sector include Delft Instruments, Panta, Italtel and LeCroy.
Doughty Hanson has offices in London, New York, Chicago, Frankfurt, Milan, Munich, Paris, Prague and Stockholm.
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