Livingstone acted as exclusive sell-side M&A advisor for the shareholders of ECOROLL Holding GmbH
ECOROLL Group, a leading provider of metal surface improvement tools backed by PINOVA Capital, has been acquired by listed Swedish industrial business group Indutrade AB.
ECOROLL, founded in 1996 in Celle, is a highly innovative supplier of tools for the mechanical improvement of metal components and a true hidden champion within its niche. The product portfolio comprises self-engineered roller burnishing, deep rolling, and skive burnishing tools for improving surface quality or increasing component lifespan while streamlining the customer’s manufacturing process in various industries, such as aerospace, mechanical engineering, or automotive. Additionally, customers profit from a reduced carbon footprint of each machined part, i.e., by following the trend of lightweight construction. The company has 65 employees and is headquartered in Celle, Germany, with a subsidiary in Cincinnati, OH.
In recent years, ECOROLL has considerably expanded its position as the market leader in its niche by, e.g. digitalizing its sales and marketing to increase international brand recognition, developing further digital solutions for process control while transforming leads into additional international blue-chip customers and updating the product portfolio to serve customers’ needs.
“Thanks to the partnership-based cooperation with CEO and co-shareholder Dr. Karsten Roettger, we have succeeded in continuing ECOROLL’s growth path and emphasizing the sustainability aspect of the company,” said Herbert Seggewiss, Managing Partner of PINOVA Capital. “The existing shareholders would like to thank Livingstone for the professional execution and the outstanding support navigating this broadly marketed international sell-side process in an overall challenging market environment.”
Dr. Karsten Roettger, CEO of ECOROLL Group, who will continue to manage ECOROLL also going forward, stressed: “Due to Indutrade’s globally renowned industrial technology leadership, ECOROLL will be able to profit from a network of more than 200 independent portfolio companies. I am happy to have found an excellent home for the company and its employees and am looking forward to the joint future development.”
Indutrade, founded in 1978, is an international technology and industrial business group comprising around 200 companies across 30 countries, primarily in Europe. Its portfolio companies specialize in developing, manufacturing, and selling technically advanced components, systems, and services for niche markets. In 2023, Indutrade is listed on Nasdaq Stockholm in Sweden. ECOROLL will be included in Indutrade’s Business Area Industrial & Engineering.
“We are glad to start the new year by welcoming ECOROLL to the Indutrade Group. The company has a strong focus on continuous innovation and product development, as well as high customer application knowledge, paving the way for continued sustainable, profitable growth”, said Bo Annvik, President and CEO of Indutrade.
Johannes Faber, Partner at Livingstone in Duesseldorf, added, “Following the sale of a majority stake in ECOROLL Group to PINOVA Capital in 2021, we have come the full circle successfully advising ECOROLL’s shareholders on the sale of 100% of the shares to the Swedish industrial business group, Indutrade. During a sophisticated and competitive international sell-side process, we are happy to have been able to present various alternative options to our clients and, in the end, attract a long-term partner for Dr. Roettger and the company.”
This transaction once again highlights Livingstone’s expertise in managing M&A mandates in the industrial technology sector, including the fields of surface treatment and finishing. It is particularly noteworthy as it marks the second transaction carried out on behalf of the shareholders of ECOROLL Group, adding to the strong track record of successful cross-border solutions advised by the Industrial Sector Team of Livingstone.
