M&A Transactions – Takeover of Ehlebracht AG


In summer 2014, MSI Mittelstand-Invest GmbH (MSI), an asset management company specialising in investments in small and medium-sized industrial enterprises, used a vehicle to submit a takeover bid to the shareholders of General Standard-listed Ehlebracht AG. The latter is a medium-sized enterprise with a solid business model which operates on an international scale and is well positioned in plastics engineering and furniture lighting systems. The takeover bid was supported by the Management Board and the Supervisory Board with a view to providing the company with a stable anchor shareholder to allow it to implement its growth strategy.

Task and result:

At the time the takeover bid was submitted, MSI held a good 75% of the Ehlebracht shares, which had previously been acquired from the former major shareholder. The aim was to convince the small shareholders of the benefits of the offer to achieve the highest possible shareholding to enable a squeeze-out over a medium-term horizon. IR.on served as the bidder’s communications consultant during the takeover process, developed the communication strategy and supported the previously low-profile bidder in its external communications.

As a result, it was possible to secure further shares in the context of the takeover bid and to make subsequent buys to reach the 90% minimum justifying a squeeze-out merger.

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