CMS Hasche Sigle advises investors on purchase of mdexx group from Siemens

Siemens AG has sold mdexx Magnetronics Devices GmbH & Co KG, its Czech subsidiary and its Chinese business operation to CGS Management (Switzerland), CRG Capital (USA/Austria) and the German management of the mdexx group. The investors were advised on the structure and implementation of the transaction by a CMS team led by Berlin partner Ralf Kurney.

mdexx group whose registered office is in Bremen, was created in a carve-off from Siemens AG in 2004. It is one of the leading European providers of transformers and electricity providers, filters, communication chokes and ventilators. In the last financial year approx. 800 employees generated turnover of EUR 120 million in the mdexx plants in Germany, the Czech Republic and China. mdexx products are available in 190 countries around the world.

CGS Management and CRG Capital both have many years of experience as investors in small and medium-sized industrial companies and advisers on restructuring.

Details of the purchase price were not disclosed.

"The acquisition of mdexx proves that private equity investors are continuing to make commercially sensible investments even in these hard times." This is a very pleasing sign," said Ralf Kurney on conclusion of the deal.

Advisers to investors

CMS Hasche Sigle (Berlin):

Ralf Kurney, Lead Partner, Corporate
Till Liebau, (Frankfurt), Corporate
Dr Andreas Bohnenkamp, Corporate
Dr Jens Moraht, Financing
Axel Dippmann, Financing
Prof. Dr Björn Gaul (Cologne), Employment
Dr Andrea Bonnani (Cologne), Employment
Dr Thomas Link (Frankfurt), Tax
Dr Hermann Stapenhorst, Real Estate

CMS Cameron McKenna (Prague):

Helen Rodwell

CMS Reich-Rohrwig Hainz (Vienna):

Martin Zuffer

Contact:

Ralf Kurney, Partner
Tel.: +49 30 / 2 03 60 – 17 06
E-mail: Ralf.Kurney@cms-hs.com