HAARMANN advises on the Sale of Internormen Technology Group
HAARMANN advised the Internormen Technology Group and its family shareholders on the sale of the enterprise to US-listed Eaton Corporation (ETN NYSE), Cleveland/Ohio. With this step, Internormen Technology Group with head offices in Altlussheim, Speyer, which has been family-owned since its foundation in 1972, is paving the way for the further development of its global business activities and access to new growth markets. Both parties have agreed not to disclose the purchase price and additional details of the transaction. After completion of the sale of the company, the sons of the founder of the company, Stefan and Bernhard Franger, who held leadership positions at Internormen, will assume respective executive management responsibilities at Eaton.
With more than 4,000 products, Internormen Technology is one of the few independent, globally represented technology providers in industrial filtration, and a trusted partner for customers in diverse industries such as mobile hydraulics, mining, steelmaking, ship building and offshore drilling. With a staff of 360, Internormen Technology services about 17,000 clients in 100 countries and has subsidiaries in India, China, Brazil and the United States. Internormen Technology was able to realize record sales in 2010 of EUR 42 million (2009: EUR 37.3 million).
Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100th anniversary in 2011, Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries.
HAARMANN has advised the Internormen Technology Group and the family Franger in connection with the sale on all legal and tax aspects of the transaction.
Advisor Internormen Technology Group
HAARMANN (
Advisor Eaton Corporation
Hengeler Müller (Frankfurt): Dr. Joachim Rosengarten (Corporate), Dr. Matthias Scheifele (Tax), Associates: Thomas Richter, Björn Bork (Corporate), Dr. Jürgen Nosky (Tax).