Halder | Ownership Succession and Growth for MidCaps

Halder | Ownership Succession and Growth for MidCaps

Prüm-Garant Holding GmbH

Business
Interior doors and doorframes for residential buildings
Sales
€114 Mio. (2006)
Holding
2004, MBO
Sale
2007

German reunification gave a strong boost to the growth of the construction business. The building boom slowed down by the mid-1990s, ushering in a drawn-out consolidation for builders and their suppliers.

Prüm is one of the door manufacturers which, thanks to good management, a broad product range and strong distribution, have enjoyed profitable growth in this difficult environment for many years. The company was sold in 2004 when parent Hochtief, the construction group, decided door manufacturing was no longer a core business.

Halder used the spin-off to organize an MBO, followed by a second investment in the sector to combine two former competitors: Prüm and Garant merged in 2005 to become the second largest provider of interior doors, with a joint market share in Germany surpassing 10%. Management of both companies was the driving force behind the merger. The market reacted positively to the move, as distributors were pleased to have a reliable alternative to the market leader.

The new company, in which Halder holds a 75% share, continued to work with its established product ranges to take advantage of market opportunities. Supported by an experienced Supervisory Board, the combination of Prüm and Garant offered potential synergies and a platform for further growth outside Germany.

In 2007, Halder sold its shares to Swiss Looser Holding AG. Looser’s plans foresee a stand-alone role for Prüm-Garant within its International Services division and a further internationalisation of business activities.

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