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Frenger is pleased to announce the acquisition by its client of 100% of Martin Depner e.K, headquartered in Celle, Germany, from its owner and founder for an undisclosed sum.
Founded in 1994, the company is a leading full-line Tools & General Maintenance / PPE supplier for commercial and industrial needs in the Hannover area. The key focus of Depner’s product range is tools, facility management items, personal protection equipment and MRO disposables.
The company operates through its offices in Celle and Hannover, and a warehouse in Wuppertal. Depner e.K generated revenues of above £8 million with a headcount of 50 people and has 3000 active customers principally in industrial sectors including large Oil, Engineering and Automotive companies.
This acquisition is the 7th initiated and managed by Frenger International on behalf of Brammer across 4 countries.
The acquisition of Depner’s business is an excellent strategic acquisition for Brammer, providing them with a strong regional player in the German T&GM / PPE market that can be used as a blueprint for a roll up strategy in Germany. It also provides cross-selling opportunities to Depner’s customer base. The seller will remain within the business post acquisition and help build this activity for Brammer in Germany.
The Group is Europe’s leading supplier of quality industrial maintenance, repair and overhaul products, operating out of 350+ locations in 17 countries. The group will achieve revenues of over €788 million in 2013 with more than 3,500 employees and is listed on the LSE since 1954.
Frenger International Ltd is a Mergers & Acquisitions boutique specialized in the initiation and management of cross-border acquisitions for its clients. Frenger has been supporting Brammer in its international acquisition programme since 2005 and has now initiated and completed 7 acquisitions in France, the United Kingdom and Norway. Depner is the first German acquisition that Frenger has managed for Brammer.