In the framework of a succession plan, Equita Holding KGaA signed a purchase agreement to acquire the majority of shares in MEN Mikro Elektronik GmbH on March 26, 2013.
Manfred Schmitz — in his capacity as CEO and co-founder of the company — will reinvest major portions of his shares, under participation of further members of the management team.
In the framework of the transaction, Udo Fuchs and Werner Witt, the two other founding members, will withdraw from operational business.
Hans Moock, managing director of Equita, sees MEN as the leader in these markets and underlines the growth potential of the company “It’s our main goal to further expand the headquarters in Nuremberg, but also the subsidiaries in France and especially the U.S. to make even more of existing opportunities as well as to keep satisfying the customers' needs in the international markets.”
“In Equita, we have found a partner who not only secures the autonomy of our company, which was founded in 1982, but will also support our successful growth process on a long-term basis. In general, our business structure will remain the same. We will continue serving and expanding the target markets of transportation and industry with our core competencies and high-quality controls,” stated Manfred Schmitz, who will be sole CEO after the transaction, in confirming the future direction of MEN Mikro Elektronik.
