Heuking advises on merger of Witte Pumps & Technology GmbH with Swiss Maag Group
December, 2022 - Germany
A team led by Heuking Partner Dr. Stefan Duhnkrack legally advised the owner of Witte Pumps & Technology GmbH in Tornesch near Hamburg on the sale of the well-established company to Maag Pump Systems AG, Oberglatt near Zurich. The parties agreed not to disclose the purchase price.
Witte manufactures gear pumps in Germany and provides aftermarket parts and services to the chemical, plastics and polymer industries, the food and beverage sector, and the pharmaceutical industry. Its subsidiaries in the USA, China, and Malaysia also provide local services in core markets.
MAAG Group, a business unit of U.S.-based Dover Corporation, is a provider of customized system and integrated process technology solutions for the polymer, chemical, petrochemical, pharmaceutical, and food industries. Applying its over 100 years of experience in manufacturing and developing pump systems, Maag Group specializes in gear pumps and filtration systems.
Maag Group will use the acquisition of Witte to establish a new integrated gear pump business unit led by Dr. Sven Wieczorek, General Manager and former owner of Witte Pumps & Technology GmbH. The company will thus offer an expanded product portfolio and complete solutions for a wider range of customer requirements in the future. Commenting on the acquisition, Ueli Thürig, President of Maag, said: “The acquisition of Witte represents a major step in making Maag the go-to partner for our customers’ most critical and demanding gear pump needs. Maag’s advanced and vertically integrated manufacturing capabilities will increase the availability and supply security of gear pumps to Witte’s customers. Combining Witte’s and Maag’s gear pump businesses into a new integrated business unit will amplify the attractiveness of our technological solutions and product offerings to our customers, and our worldwide footprint will allow us to better serve our global customer base.” Maag operates production sites in Switzerland, Germany, Italy, the USA, and China in addition to service centers and sales offices in France, Singapore, Taiwan, Malaysia, India, Thailand, and Brazil.
Counsel to Witte Pumps & Technology GmbH
Heuking Kühn Lüer Wojtek:
Dr. Stefan Duhnkrack (Lead, Corporate / M&A),
Dr. Hans Henning Hoff (M&A and Real Estate),
Dr. Stefan Bretthauer (Competition),
Kay Jacobsen (Employment),
Beliardis Ehlert-Gasde (Financing), all Hamburg
Financial Advisor
BDO:
Hans-Jürgen Rondorff (Transaction Lead Partner)
Tax & Tax Structuring:
BDO
