OHB Technology AG and Apollo Capital Partners GmbH acquire MAN Technologie AG
Today, OHB Technology AG (ISIN: DE0005936124), a globally leading supplier in the space + security, telematics and satellite services sectors, and the Munich-based technology holding company Apollo Capital Partners GmbH have signed an agreement with MAN AG on the acquisition of 100 percent of the shares in MAN Technologie AG, Augsburg.
MAN Technologie AG is active in the aerospace sector, primarily as a supplier of the European Ariane-5 rocket as well as tank systems for the aviation industry. The company, which generated revenues of approx. EUR 100 million in 2004, should constantly advance and expand its business activities in these fields. In the future, the company will trade under the name MT Aerospace AG, Augsburg.
With this investment OHB Technology AG further expands the product portfolio in its strongest division Space + Security.
According to the agreement of the contractual partners, no further details on the transaction are given.
About OHB Technology AG
OHB Technology AG is the first listed technology and space company in Germany (ISIN: DE0005936124; Security Identification Number: 593612; Prime Standard). With around 290 employees, the company generated revenues of € 138 million in 2004. With the three existing operative divisions of Space Technology & Security, Telematics and Satellite Operations, we create comprehensive solutions for our customers. OHB Technology covers the entire value chain from the development, construction and operation of satellites to data transmission and processing. In addition, the OHB Group is heavily engaged in the fields of manned spaceflight, aerospace transportation systems and start-up services for satellites.
About Apollo Capital Partners GmbH
The Munich-based Apollo Capital Partners is a holding company with a focus on technology companies. Its founder, Mr. Hans Steininger, has been with the OHB Group since 2000 and is currently the Vice-Chairman of the Supervisory Board. He will take on a management role at MT Aerospace AG in the future, after which time he will resign from his OHB Supervisory Board mandate.
About MAN AG
The MAN Group is among the leading engineering companies in Europe with annual sales of ca. € 15 billion. As a global supplier of products, systems and services in the capital goods industry with a total of 60,000 employees, MAN is active in the core divisions of Commercial Vehicles, Industrial Services, Printing Systems, Diesel Engines and Turbomachines. Most of the companies of the MAN Group are among the leaders in their markets. The holding company of MAN Aktiengesellschaft, Munich, is a member of the German Stock Index DAX of the 30 leading German stock corporations.