GCA Altium is now part of Houlihan Lokey

Transaction Details

April 27, 2021


Industrials and Industrial Technology

Deal Type


Deal Team

Frank Merkel, Tobias Schultheiss, Lukas Schmitt, Marcello Gildemeister, Mark Schmidt, Thorsten Weber, Adrian Nowitzki, Thai Nguyen Duy

GCA Altium advises the shareholders of Engelmann Sensor on their sale to DPE

GCA Altium acted as exclusive financial advisor to capiton, NORD Holding, family Brendecke and the management team of Engelmann Sensor, a leading European manufacturer in the smart heat metering industry, on their sale to DPE, a leading mid-market buy-out investor.

Engelmann is the leading European manufacturer of smart heat meters for the sub-metering industry. In recent years, Engelmann has continuously strengthened its market positioning by evolving its comprehensive product portfolio towards becoming the preferred system provider in the market.

Engelmann has 170 employees with assembly sites at its headquarters in Wiesloch, Germany, as well as in Suining, China, and generated revenues north of EUR 45m in FY20/21. Driven by regulatory enforcements and the overall climate goal for decarbonisation, the roll-out of smart meters is expected to significantly contribute towards Engelmann’s further growth in upcoming years.

NORD Holding and capiton acquired Engelmann in 2014. Key milestones during this time have been the successful development of a new management team, the improvement of operational efficiencies, as well as new product launches and successful client diversification.

Commenting on the transaction, Christoph Spors, Partner at capiton and Andre Seidel, Senior Investment Manager at NORD Holding, said: “We are extremely happy with the outcome of the transaction. GCA Altium’s engagement was a crucial element in orchestrating and efficiently managing a very competitive process, which led to a superior outcome for Engelmann’s shareholders.”

Adding to this, Michael Keuthen, CEO of Engelmann, said: “We want to thank GCA Altium’s team for being a great partner during this process. With their strong commitment and teamwork, they were instrumental in showcasing Engelmann’s business potential in the best possible manner and paved the way to find an ideal partner for our future endeavours.”

The financial terms of the transaction have not been disclosed and the transaction remains subject to approval from the relevant competition authorities.

Related Transactions

All transactions