Munich industrial holding ADCURAM Group AG is acquiring 90 per cent of the shares in the Vitrulan Group under a succession arrangement. The respective sale and purchase agreement was signed on 07 October 2016. The previous majority shareholder will retain a ten per cent stake in the operative companies Vitrulan Textile Glass GmbH in Marktschorgast (Upper Franconia) and Vitrulan Technical Textiles GmbH in Haselbach (Thuringia) and will continue to lead the group as managing director.
The Vitrulan Group can look back on a long and successful history of producing extremely hard-wearing interior wall and ceiling coverings woven from glass (textile glass) as well as reinforcing and backing fabrics, laminates and specialist products. The company has approximately 400 employees and generates annual turnover of around €60 million. The origins of Vitrulan reach all the way back to 1921, when Thuringia’s glass wool industry was founded. The company is now managed by the third generation. It is envisaged that Vitrulan will enter a new phase of growth with the help of ADCURAM, investing in new plants and technology, focusing more strongly on international markets and thereby tapping into new growth fields and new customer groups.
Attorneys Dr. Thorsten Steinhaus and Dr. Thomas Lotz of TRACC LEGAL in Munich advised ADCURAM in the transaction. BEITEN BURKHARDT (Dr. Detlev Koch, Dr. Guido Rügenberg) was the advisor for the vendors and the future minority shareholder of the Vitrulan Group.